Synchronoss Technologies (NASDAQ:SNCR) Stock Rating Upgraded by StockNews.com – Defense World
Posted by admin on Aug 14th, 2022 
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Shares of SNCR stock opened at $1.72 on Friday. Synchronoss Technologies has a 1-year low of $1.06 and a 1-year high of $3.09. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $151.88 million, a price-to-earnings ratio of -12.28 and a beta of 1.28. The stock’s fifty day simple moving average is $1.33 and its 200-day simple moving average is $1.52.
In other Synchronoss Technologies news, Director Martin Francis Bernstein purchased 47,900 shares of the stock in a transaction dated Monday, May 16th. The shares were acquired at an average price of $1.52 per share, for a total transaction of $72,808.00. Following the completion of the acquisition, the director now owns 155,502 shares of the company’s stock, valued at approximately $236,363.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder B. Riley Financial, Inc. acquired 69,183 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average price of $1.50 per share, with a total value of $103,774.50. Following the completion of the transaction, the insider now owns 11,878,289 shares in the company, valued at $17,817,433.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin Francis Bernstein acquired 47,900 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $1.52 per share, with a total value of $72,808.00. Following the transaction, the director now owns 155,502 shares of the company’s stock, valued at approximately $236,363.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 132,802 shares of company stock worth $200,061. 3.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Bouvel Investment Partners LLC boosted its position in Synchronoss Technologies by 1.2% during the first quarter. Bouvel Investment Partners LLC now owns 576,124 shares of the software maker’s stock valued at $997,000 after purchasing an additional 7,074 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $37,000. Wedbush Securities Inc. acquired a new stake in shares of Synchronoss Technologies in the first quarter worth about $48,000. Mirabella Financial Services LLP acquired a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $73,000. Finally, Renaissance Technologies LLC lifted its position in shares of Synchronoss Technologies by 10.1% in the second quarter. Renaissance Technologies LLC now owns 414,827 shares of the software maker’s stock worth $477,000 after buying an additional 37,998 shares during the last quarter. Institutional investors and hedge funds own 51.06% of the company’s stock.
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Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.
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