Synergy CHC Corp. (NASDAQ:SNYR) Sees Large Decrease in Short Interest

Synergy CHC Corp. (NASDAQ:SNYR) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 229,140 shares, a decrease of 87.1% from the April 15th total of 1,772,777 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 815,423 shares, the short-interest ratio is presently 0.3 days.

Synergy CHC Stock Down 8.4%

Shares of SNYR traded down $0.03 during trading hours on Thursday, reaching $0.27. 818,003 shares of the company traded hands, compared to its average volume of 1,048,006. Synergy CHC has a 12 month low of $0.27 and a 12 month high of $4.00. The company’s fifty day moving average price is $0.80 and its two-hundred day moving average price is $1.50. The company has a market capitalization of $4.09 million, a price-to-earnings ratio of -0.26 and a beta of -0.26.

Synergy CHC (NASDAQ:SNYR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). The company had revenue of $5.49 million during the quarter. Synergy CHC had a negative return on equity of 19.51% and a negative net margin of 42.59%. On average, analysts expect that Synergy CHC will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Heartland Advisors Inc. bought a new stake in shares of Synergy CHC during the third quarter valued at approximately $1,342,000. Warberg Asset Management LLC purchased a new position in Synergy CHC during the third quarter valued at $82,000. XTX Topco Ltd bought a new stake in shares of Synergy CHC during the 2nd quarter valued at $57,000. DRW Securities LLC bought a new stake in shares of Synergy CHC during the 4th quarter valued at $36,000. Finally, Virtu Financial LLC purchased a new stake in shares of Synergy CHC in the 3rd quarter worth about $38,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNYR shares. Ascendiant Capital Markets lifted their price objective on Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings lowered Synergy CHC from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Friday, April 10th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.25.

About Synergy CHC

Synergy CHC Corp. engages in the marketing and distribution of branded health and wellness products. The company was founded on December 29, 2010 and is headquartered in Westbrook, ME.