Synacor Inc. (SYNC) Sees Unusually-High Trading Volume
Shares of Synacor Inc. (NASDAQ:SYNC) saw unusually-strong trading volume on Monday . Approximately 279,090 shares changed hands during mid-day trading, an increase of 35% from the previous session’s volume of 207,116 shares.The stock last traded at $2.68 and had previously closed at $2.74.
Separately, Rosenblatt Securities reissued a “buy” rating and issued a $4.50 price objective on shares of Synacor in a research note on Friday, May 13th.
The stock has a 50 day moving average of $2.99 and a 200 day moving average of $2.39. The stock’s market capitalization is $82.39 million.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm earned $30.50 million during the quarter, compared to analyst estimates of $30.50 million. On average, analysts forecast that Synacor Inc. will post ($0.33) EPS for the current year.
In related news, Director Jordan Levy sold 25,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $3.08, for a total transaction of $77,000.00. Following the completion of the transaction, the director now owns 77,113 shares in the company, valued at approximately $237,508.04. The transaction was disclosed in a legal filing with the SEC, 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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