Synacor Inc. (SYNC) Trading Up 7%
Shares of Synacor Inc. (NASDAQ:SYNC) were 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 changing hands. The stock had previously closed at $2.98.
Separately, Rosenblatt Securities reissued a “buy” rating and issued a $4.50 target price on shares of Synacor in a research report on Friday, May 13th.
The firm has a 50 day moving average price of $3.14 and a 200-day moving average price of $2.14. The company’s market cap is $94.57 million.
Synacor (NASDAQ:SYNC) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The business earned $30.30 million during the quarter, compared to analyst estimates of $28.60 million. On average, equities research analysts forecast that Synacor Inc. will post ($0.34) EPS for the current fiscal year.
In other news, Director Jordan Levy sold 25,000 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $3.08, for a total value of $77,000.00. Following the sale, the director now directly owns 77,113 shares in the company, valued at $237,508.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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