Archon Capital Management LLC Raises Holdings in Synchronoss Technologies, Inc. $SNCR

Archon Capital Management LLC boosted its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 259.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,631 shares of the software maker’s stock after acquiring an additional 118,117 shares during the quarter. Archon Capital Management LLC owned 1.42% of Synchronoss Technologies worth $1,121,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Informed Momentum Co LLC purchased a new position in shares of Synchronoss Technologies during the 1st quarter valued at approximately $569,000. Russell Investments Group Ltd. acquired a new stake in Synchronoss Technologies during the first quarter valued at $914,000. Trexquant Investment LP increased its holdings in Synchronoss Technologies by 167.5% in the first quarter. Trexquant Investment LP now owns 48,001 shares of the software maker’s stock valued at $523,000 after buying an additional 30,056 shares in the last quarter. Ancora Advisors LLC raised its position in shares of Synchronoss Technologies by 762.4% in the first quarter. Ancora Advisors LLC now owns 146,871 shares of the software maker’s stock worth $1,599,000 after acquiring an additional 129,840 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Synchronoss Technologies by 212.3% in the first quarter. Goldman Sachs Group Inc. now owns 32,600 shares of the software maker’s stock worth $355,000 after acquiring an additional 22,160 shares during the period. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNCR. Zacks Research upgraded Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen raised Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Synchronoss Technologies Stock Up 64.3%

Shares of NASDAQ:SNCR opened at $8.71 on Friday. Synchronoss Technologies, Inc. has a 52-week low of $3.98 and a 52-week high of $12.85. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13. The business has a fifty day moving average of $5.31 and a two-hundred day moving average of $6.27. The stock has a market cap of $100.25 million, a P/E ratio of -8.54, a PEG ratio of 0.65 and a beta of 1.60.

Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.28. Synchronoss Technologies had a negative net margin of 5.69% and a positive return on equity of 24.44%. The firm had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $43.20 million. On average, research analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

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 offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.