5 Micro-Cap Stocks to Buy According to Hedge Funds

2. Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Number of Hedge Fund Holders: 22

Market Capitalization: $255.3 million

Synchronoss Technologies, Inc. (NASDAQ:SNCR) is a software company that was founded in 2000 with nine global offices and a headcount of over 1,500 employees. The Bridgewater, New-Jersey-based company has over 200 customers with more than 135 patents. The company develops white-label software that eases the engagement of the masses with the brands. After people are converted into subscribers, Synchronoss Technologies, Inc. (NASDAQ:SNCR) provides solutions that ease the onboarding and drive service adoption. Finally, the network component of their service streamlines networks to be more efficient and profitable.

Synchronoss Technologies, Inc. (NASDAQ:SNCR)  is in the middle of restructuring. It was able to refinance its $278.6 million worth of preferred stock with a 14.5% dividend through a secondary equity offering of 42.3 million shares at $2.30 and a $120 million senior notes at 8.375% interest.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) reported its Q3 2021 results on November 8. The revenues came in at $69.8 million and outperformed the consensus estimate of $68.6 million. Meanwhile, the non-GAAP EPS of 9 cents was higher than the consensus loss per share estimate of 3 cents.