Synacor Inc. (SYNC) Sees Unusually-High Trading Volume
Synacor Inc. (NASDAQ:SYNC) saw unusually-strong trading volume on Wednesday . Approximately 1,106,191 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 533,901 shares.The stock last traded at $3.31 and had previously closed at $3.12.
Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $4.50 price target on shares of Synacor in a research note on Friday, May 13th.
The stock’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.19. The firm’s market cap is $98.77 million.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04. The company earned $30.30 million during the quarter, compared to analysts’ expectations of $28.60 million. On average, analysts forecast that Synacor Inc. will post ($0.34) EPS for the current year.
In related news, Director Jordan Levy sold 25,000 shares of the business’s stock in a transaction dated 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 approximately $237,508.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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