Synacor Inc (NASDAQ:SYNC) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 48,500 shares, a growth of 35.1% from the July 31st total of 35,900 shares. Based on an average daily volume of 133,900 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.
A number of equities analysts have recently issued reports on the stock. Craig Hallum lowered shares of Synacor to a “hold” rating in a research report on Friday, August 9th. ValuEngine upgraded shares of Synacor from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold”.
Several hedge funds have recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its position in shares of Synacor by 62.5% during the first quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the information services provider’s stock worth $31,000 after purchasing an additional 7,500 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in Synacor by 28.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 160,000 shares of the information services provider’s stock valued at $251,000 after buying an additional 35,000 shares during the period. Acadian Asset Management LLC lifted its holdings in Synacor by 809.3% in the second quarter. Acadian Asset Management LLC now owns 48,918 shares of the information services provider’s stock valued at $76,000 after buying an additional 43,538 shares during the period. Renaissance Technologies LLC lifted its holdings in Synacor by 6.3% in the second quarter. Renaissance Technologies LLC now owns 1,613,711 shares of the information services provider’s stock valued at $2,517,000 after buying an additional 95,611 shares during the period. Finally, Raffles Associates LP lifted its holdings in Synacor by 93.4% in the second quarter. Raffles Associates LP now owns 310,539 shares of the information services provider’s stock valued at $484,000 after buying an additional 150,000 shares during the period. Institutional investors own 27.58% of the company’s stock.
Shares of SYNC stock traded down $0.05 during trading hours on Friday, reaching $1.40. 5,340 shares of the company were exchanged, compared to its average volume of 105,738. Synacor has a fifty-two week low of $1.28 and a fifty-two week high of $2.30. The stock’s fifty day moving average is $1.44 and its two-hundred day moving average is $1.58. The company has a market cap of $51.75 million, a price-to-earnings ratio of -10.77 and a beta of 0.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.10 and a quick ratio of 1.10.
Synacor (NASDAQ:SYNC) last announced its earnings results on Wednesday, August 7th. The information services provider reported ($0.05) earnings per share (EPS) for the quarter. Synacor had a negative return on equity of 10.63% and a negative net margin of 5.28%. The company had revenue of $31.85 million for the quarter.
Synacor Company Profile
Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises in the United States and internationally. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.
Recommended Story: What member countries make up the G-20?
Receive News & Ratings for Synacor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synacor and related companies with MarketBeat.com's FREE daily email newsletter.