Synergy CHC (NASDAQ:SNYR) Trading Down 2.1% – Here’s What Happened

Synergy CHC Corp. (NASDAQ:SNYR)’s share price dropped 2.1% during trading on Friday . The company traded as low as $1.86 and last traded at $1.86. Approximately 14,264 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 18,601 shares. The stock had previously closed at $1.90.

Analyst Upgrades and Downgrades

SNYR has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Synergy CHC from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Synergy CHC in a report on Monday, December 29th. Finally, Roth Mkm cut their target price on shares of Synergy CHC from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 14th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Synergy CHC has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Synergy CHC Stock Down 2.1%

The company has a 50-day moving average of $1.91 and a 200 day moving average of $2.47. The stock has a market capitalization of $20.93 million, a PE ratio of 6.41 and a beta of 3.48.

Synergy CHC (NASDAQ:SNYR) last announced its earnings results on Thursday, November 13th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Synergy CHC had a net margin of 7.77% and a negative return on equity of 19.51%. The company had revenue of $8.01 million for the quarter. As a group, equities analysts predict that Synergy CHC Corp. will post 0.36 EPS for the current fiscal year.

Institutional Trading of Synergy CHC

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC acquired a new stake in Synergy CHC in the 2nd quarter valued at about $29,000. Virtu Financial LLC acquired a new position in shares of Synergy CHC during the 3rd quarter worth approximately $38,000. Sanders Morris Harris LLC grew its position in shares of Synergy CHC by 5.0% in the third quarter. Sanders Morris Harris LLC now owns 391,702 shares of the company’s stock valued at $956,000 after purchasing an additional 18,701 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Synergy CHC in the second quarter valued at approximately $57,000. Finally, Warberg Asset Management LLC acquired a new stake in shares of Synergy CHC in the third quarter valued at approximately $82,000.

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.