Synacor (NASDAQ:SYNC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity decreased their price objective on shares of Synacor from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Synacor (SYNC) traded down $0.10 during trading hours on Monday, reaching $2.40. 76,183 shares of the company’s stock traded hands, compared to its average volume of 171,790. Synacor has a one year low of $1.96 and a one year high of $4.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.27 and a current ratio of 1.27.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNC. Dimensional Fund Advisors LP raised its holdings in Synacor by 161.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 41,978 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 25,929 shares during the last quarter. Cowen Prime Services LLC raised its holdings in Synacor by 67.0% in the 2nd quarter. Cowen Prime Services LLC now owns 58,525 shares of the information services provider’s stock valued at $214,000 after acquiring an additional 23,472 shares during the last quarter. Northern Trust Corp raised its holdings in Synacor by 27.5% in the 2nd quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock valued at $218,000 after acquiring an additional 12,875 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Synacor in the 2nd quarter valued at about $274,000. Finally, Acadian Asset Management LLC raised its holdings in Synacor by 9.7% in the 2nd quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock valued at $312,000 after acquiring an additional 7,576 shares during the last quarter. Hedge funds and other institutional investors own 30.05% of the company’s stock.

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About Synacor

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.

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

Analyst Recommendations for Synacor (NASDAQ:SYNC)

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