Synergy CHC Corp. (NASDAQ:SNYR) Sees Significant Decline in Short Interest

Synergy CHC Corp. (NASDAQ:SNYR) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 66,457 shares, a drop of 98.0% from the May 31st total of 3,404,749 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 976,229 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

SNYR has been the topic of several analyst reports. Zacks Research cut shares of Synergy CHC from a “hold” rating to a “strong sell” rating in a research note on Friday, June 12th. Weiss Ratings lowered Synergy CHC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Ascendiant Capital Markets lifted their target price on Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Synergy CHC has an average rating of “Hold” and a consensus price target of $6.25.

Synergy CHC Price Performance

Shares of SNYR stock opened at $0.20 on Friday. The stock has a market capitalization of $3.06 million, a PE ratio of -0.14 and a beta of -0.27. The business’s 50 day simple moving average is $0.30 and its 200 day simple moving average is $1.10. Synergy CHC has a one year low of $0.18 and a one year high of $4.00.

Synergy CHC (NASDAQ:SNYR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.26). The firm had revenue of $5.49 million for the quarter. Synergy CHC had a negative return on equity of 19.51% and a negative net margin of 60.02%. As a group, research analysts expect that Synergy CHC will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Synergy CHC

Several large investors have recently modified their holdings of SNYR. DRW Securities LLC acquired a new position in Synergy CHC in the fourth quarter valued at $36,000. Geode Capital Management LLC boosted its position in Synergy CHC by 29.9% during the fourth quarter. Geode Capital Management LLC now owns 36,038 shares of the company’s stock valued at $67,000 after acquiring an additional 8,288 shares during the last quarter. Virtu Financial LLC acquired a new stake in Synergy CHC during the 3rd quarter worth about $38,000. Finally, XTX Topco Ltd acquired a new stake in Synergy CHC during the 2nd quarter worth about $57,000.

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.