Synacor Inc (NASDAQ:SYNC) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 333,483 shares, a decline of 44.4% from the January 12th total of 599,398 shares. Based on an average daily volume of 226,342 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.1% of the shares of the stock are short sold.
Several brokerages recently issued reports on SYNC. Zacks Investment Research raised shares of Synacor from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. ValuEngine raised shares of Synacor from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, Canaccord Genuity reduced their target price on shares of Synacor from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.83.
Synacor (NASDAQ SYNC) traded down $0.03 on Wednesday, reaching $2.25. 86,534 shares of the company’s stock were exchanged, compared to its average volume of 189,411. Synacor has a 52-week low of $1.85 and a 52-week high of $4.25. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.07. The company has a market cap of $85.11, a price-to-earnings ratio of -5.77 and a beta of 0.44.
Synacor (NASDAQ:SYNC) last posted its earnings results on Tuesday, November 14th. The information services provider reported ($0.02) earnings per share for the quarter. Synacor had a negative return on equity of 31.12% and a negative net margin of 9.87%. The business had revenue of $36.27 million for the quarter. research analysts expect that Synacor will post -0.3 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ariel Investments LLC grew its holdings in Synacor by 28.3% during the 4th quarter. Ariel Investments LLC now owns 3,777,912 shares of the information services provider’s stock worth $8,689,000 after acquiring an additional 833,000 shares during the last quarter. Raffles Associates LP bought a new stake in Synacor during the 4th quarter worth approximately $185,000. Cowen Prime Services LLC grew its holdings in Synacor by 171.7% during the 4th quarter. Cowen Prime Services LLC now owns 147,673 shares of the information services provider’s stock worth $340,000 after acquiring an additional 93,328 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in Synacor by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,307,784 shares of the information services provider’s stock worth $3,531,000 after acquiring an additional 23,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Synacor by 161.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 41,978 shares of the information services provider’s stock worth $113,000 after acquiring an additional 25,929 shares during the last quarter. 30.23% of the stock is currently owned by hedge funds and other institutional investors.
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Synacor Company Profile
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.
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