Synchronoss Technologies (NASDAQ:SNCR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.50 and traded as high as $11.13. Synchronoss Technologies shares last traded at $10.20, with a volume of 182,129 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

Synchronoss Technologies Trading Down 6.3 %

The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 6.68. The firm’s 50-day moving average price is $12.84 and its 200 day moving average price is $10.50. The company has a market capitalization of $110.34 million, a P/E ratio of -2.64 and a beta of 1.99.

Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Tuesday, August 6th. The software maker reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.39. The company had revenue of $43.46 million during the quarter, compared to the consensus estimate of $43.09 million. Synchronoss Technologies had a negative net margin of 16.97% and a positive return on equity of 28.60%. As a group, equities research analysts predict that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other Synchronoss Technologies news, Director Martin Francis Bernstein sold 2,319 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $14.20, for a total value of $32,929.80. Following the completion of the sale, the director now directly owns 63,456 shares of the company’s stock, valued at approximately $901,075.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Synchronoss Technologies news, Director Martin Francis Bernstein sold 2,319 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $14.20, for a total value of $32,929.80. Following the completion of the sale, the director now directly owns 63,456 shares of the company’s stock, valued at approximately $901,075.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Lou Ferraro sold 5,768 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.60, for a total transaction of $78,444.80. Following the completion of the sale, the chief financial officer now directly owns 83,556 shares of the company’s stock, valued at $1,136,361.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,907 shares of company stock valued at $3,616,726. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. lifted its stake in shares of Synchronoss Technologies by 8.5% during the 1st quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after buying an additional 41,824 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after purchasing an additional 20,368 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock worth $8,395,000 after purchasing an additional 13,984 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Synchronoss Technologies by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after purchasing an additional 6,700 shares in the last quarter. 51.71% of the stock is owned by institutional investors.

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.