Synacor Inc. (SYNC) Trading 7% Higher
Synacor Inc. (NASDAQ:SYNC)’s share price traded up 7% during mid-day trading on Wednesday . The company traded as high as $3.26 and last traded at $3.19, with a volume of 992,066 shares trading hands. The stock had previously closed at $2.98.
Separately, Rosenblatt Securities restated a “buy” rating and issued a $4.50 price objective on shares of Synacor in a research report on Friday, May 13th.
The stock’s 50-day moving average price is $3.15 and its 200-day moving average price is $2.15. The stock’s market cap is $92.77 million.
Synacor (NASDAQ:SYNC) last issued its earnings results on Tuesday, May 10th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The company had revenue of $30.30 million for the quarter, compared to the consensus estimate of $28.60 million. On average, equities analysts expect that Synacor Inc. will post ($0.34) EPS for the current fiscal year.
In related news, Director Jordan Levy sold 25,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $3.03, for a total transaction of $75,750.00. Following the completion of the transaction, the director now owns 102,113 shares in the company, valued at $309,402.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
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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