Synchronoss Technologies (NASDAQ:SNCR) Upgraded at StockNews.com

StockNews.com upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a buy rating in a report released on Thursday morning.

Synchronoss Technologies Stock Performance

SNCR opened at $11.50 on Thursday. The business’s 50-day simple moving average is $9.31 and its 200 day simple moving average is $8.71. Synchronoss Technologies has a 52-week low of $2.70 and a 52-week high of $13.97. The company has a debt-to-equity ratio of 5.70, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $124.09 million, a PE ratio of -2.28 and a beta of 1.92.

Insider Activity at Synchronoss Technologies

In other Synchronoss Technologies news, major shareholder B. Riley Financial, Inc. sold 57,466 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $11.45, for a total value of $657,985.70. Following the completion of the sale, the insider now owns 1,312,548 shares in the company, valued at $15,028,674.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.90% of the stock is owned by company insiders.

Institutional Trading of Synchronoss Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Personal Financial Services acquired a new position in shares of Synchronoss Technologies during the 4th quarter worth approximately $25,000. Victory Capital Management Inc. bought a new position in Synchronoss Technologies during the fourth quarter worth $89,000. Dimensional Fund Advisors LP increased its holdings in shares of Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after purchasing an additional 20,368 shares during the last quarter. Bouvel Investment Partners LLC raised its position in shares of Synchronoss Technologies by 3.4% in the first quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock valued at $642,000 after purchasing an additional 2,518 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after buying an additional 6,700 shares during the last quarter. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.