Synergy CHC (NASDAQ:SNYR) Trading Up 2% – Here’s What Happened

Synergy CHC Corp. (NASDAQ:SNYR) shares rose 2% on Friday . The stock traded as high as $2.63 and last traded at $2.53. Approximately 86,226 shares changed hands during trading, a decline of 45% from the average daily volume of 157,687 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

SNYR has been the topic of a number of recent research reports. Wall Street Zen upgraded Synergy CHC to a “buy” rating in a report on Saturday, June 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Synergy CHC in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.00.

Synergy CHC Stock Performance

The firm’s 50 day simple moving average is $2.83 and its 200-day simple moving average is $2.51. The company has a market capitalization of $23.89 million and a price-to-earnings ratio of 6.66.

Synergy CHC (NASDAQ:SNYR) last issued its earnings results on Thursday, August 14th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The business had revenue of $6.74 million during the quarter, compared to analysts’ expectations of $10.80 million. Synergy CHC had a negative return on equity of 18.56% and a net margin of 10.02%. As a group, equities analysts anticipate that Synergy CHC Corp. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Synergy CHC

A hedge fund recently bought a new stake in Synergy CHC stock. Geode Capital Management LLC purchased a new position in shares of Synergy CHC Corp. (NASDAQ:SNYR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,313 shares of the company’s stock, valued at approximately $29,000. Geode Capital Management LLC owned 0.11% of Synergy CHC as of its most recent filing with the Securities and Exchange Commission (SEC).

About Synergy CHC

Synergy CHC Corp. engages in the marketing and distribution of branded health and wellness products. The company was founded on December 29, 2010 and is headquartered in Westbrook, ME.