Synacor Inc (SYNC) Short Interest Update

Synacor Inc (NASDAQ:SYNC) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 333,483 shares, a decrease 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 presently 1.5 days. Currently, 1.1% of the company’s shares are short sold.

Several brokerages have recently commented on SYNC. Zacks Investment Research raised shares of Synacor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. ValuEngine downgraded shares of Synacor from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. Finally, Canaccord Genuity reduced 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Synacor currently has an average rating of “Hold” and a consensus price target of $5.00.

Shares of Synacor (NASDAQ SYNC) opened at $2.15 on Monday. The company has a market cap of $83.17, a P/E ratio of -5.51 and a beta of 0.44. Synacor has a 52-week low of $1.85 and a 52-week high of $4.25. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07.

Synacor (NASDAQ:SYNC) last announced its quarterly earnings data on Tuesday, November 14th. The information services provider reported ($0.02) EPS for the quarter. The company had revenue of $36.27 million for the quarter. Synacor had a negative return on equity of 31.12% and a negative net margin of 9.87%. research analysts expect that Synacor will post -0.3 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Cowen Prime Services LLC grew its position in shares of 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 buying an additional 93,328 shares during the period. Alyeska Investment Group L.P. grew its position in Synacor by 1.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,307,784 shares of the information services provider’s stock valued at $3,531,000 after purchasing an additional 23,353 shares during the period. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 25,929 shares during the period. Prudential Financial Inc. grew its position in Synacor by 39.0% in the 3rd quarter. Prudential Financial Inc. now owns 104,400 shares of the information services provider’s stock valued at $282,000 after purchasing an additional 29,300 shares during the period. Finally, Northpointe Capital LLC grew its position in Synacor by 558.3% in the 3rd quarter. Northpointe Capital LLC now owns 1,649,151 shares of the information services provider’s stock valued at $4,453,000 after purchasing an additional 1,398,638 shares during the period. 30.24% of the stock is owned by 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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