Synacor (SYNC) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Synacor (NASDAQ:SYNC) from a hold rating to a buy rating in a research note published on Thursday morning.

Separately, Zacks Investment Research lowered shares of Synacor from a buy rating to a hold rating in a research note on Thursday, July 26th.

Shares of NASDAQ:SYNC traded up $0.01 during trading on Thursday, reaching $1.78. The stock had a trading volume of 38,302 shares, compared to its average volume of 88,633. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.28 and a current ratio of 1.28. Synacor has a 52 week low of $1.35 and a 52 week high of $2.70. The firm has a market cap of $68.97 million, a P/E ratio of -6.59 and a beta of 0.24.

Synacor (NASDAQ:SYNC) last posted its quarterly earnings data on Wednesday, August 1st. The information services provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01. The company had revenue of $35.92 million for the quarter. Synacor had a negative net margin of 3.18% and a negative return on equity of 11.18%. As a group, sell-side analysts anticipate that Synacor will post -0.1 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNC. NJ State Employees Deferred Compensation Plan bought a new position in Synacor during the second quarter worth $380,000. Cowen Prime Services LLC boosted its stake in Synacor by 47.7% during the second quarter. Cowen Prime Services LLC now owns 309,851 shares of the information services provider’s stock worth $620,000 after acquiring an additional 100,094 shares in the last quarter. Raffles Associates LP bought a new position in Synacor during the second quarter worth $160,000. Finally, Renaissance Technologies LLC boosted its stake in Synacor by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,379,300 shares of the information services provider’s stock worth $2,759,000 after acquiring an additional 75,700 shares in the last quarter. 26.57% of the stock is currently owned by institutional investors and hedge funds.

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. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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