Synchronoss Technologies (NASDAQ:SNCR) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Synchronoss Technologies (NASDAQ:SNCR) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the software maker’s stock.

Synchronoss Technologies Trading Down 1.8 %

NASDAQ:SNCR opened at $0.55 on Friday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $51.25 million, a price-to-earnings ratio of -1.06 and a beta of 1.48. Synchronoss Technologies has a 52 week low of $0.30 and a 52 week high of $1.17. The firm has a 50-day moving average price of $0.66 and a two-hundred day moving average price of $0.86.

Insider Buying and Selling at Synchronoss Technologies

In other news, major shareholder B. Riley Financial, Inc. purchased 544,972 shares of the business’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $0.45 per share, with a total value of $245,237.40. Following the acquisition, the insider now directly owns 2,025,471 shares in the company, valued at $911,461.95. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder B. Riley Financial, Inc. purchased 544,972 shares of the business’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $0.45 per share, with a total value of $245,237.40. Following the acquisition, the insider now directly owns 2,025,471 shares in the company, valued at $911,461.95. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey George Miller acquired 160,000 shares of the stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $0.48 per share, for a total transaction of $76,800.00. Following the transaction, the chief executive officer now owns 1,430,101 shares in the company, valued at approximately $686,448.48. The disclosure for this purchase can be found here. Insiders bought a total of 829,780 shares of company stock valued at $380,583 in the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Synchronoss Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC raised its position in shares of Synchronoss Technologies by 52.7% during the 3rd quarter. Jane Street Group LLC now owns 48,159 shares of the software maker’s stock valued at $55,000 after buying an additional 16,630 shares in the last quarter. Millennium Management LLC raised its position in shares of Synchronoss Technologies by 6.1% during the 2nd quarter. Millennium Management LLC now owns 415,725 shares of the software maker’s stock valued at $478,000 after buying an additional 24,015 shares in the last quarter. Citadel Advisors LLC raised its position in Synchronoss Technologies by 25.7% in the 2nd quarter. Citadel Advisors LLC now owns 118,979 shares of the software maker’s stock worth $111,000 after purchasing an additional 24,307 shares during the period. Prudential Financial Inc. purchased a new position in Synchronoss Technologies in the 2nd quarter worth $30,000. Finally, Renaissance Technologies LLC raised its position in Synchronoss Technologies by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 454,327 shares of the software maker’s stock worth $422,000 after purchasing an additional 27,300 shares during the period. Hedge funds and other institutional investors own 40.26% of the company’s stock.

About Synchronoss Technologies

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's product EngageX, offers personal cloud, which helps in backup, manage, and engage with content; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; and email solutions.