Synacor Inc. (SYNC) Sees Unusually-High Trading Volume
Synacor Inc. (NASDAQ:SYNC) shares saw unusually-high 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 issued a $4.50 price target on shares of Synacor in a research note on Friday, May 13th.
The firm has a 50 day moving average price of $3.15 and a 200 day moving average price of $2.20. The company’s market capitalization is $92.84 million.
Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Tuesday, May 10th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. The firm had revenue of $30.30 million for the quarter, compared to the consensus estimate of $28.60 million. On average, equities research analysts anticipate that Synacor Inc. will post ($0.34) earnings per share for the current year.
In related news, Director Jordan Levy sold 25,000 shares of Synacor stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $3.08, for a total transaction of $77,000.00. Following the transaction, the director now owns 77,113 shares of the company’s stock, valued at approximately $237,508.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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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