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

Synergy CHC Corp. (NASDAQ:SNYR) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 3,404,749 shares, an increase of 1,359.5% from the May 14th total of 233,283 shares. Approximately 52.0% of the company’s stock are sold short. Based on an average daily trading volume, of 13,395,011 shares, the short-interest ratio is presently 0.3 days.

Analyst Ratings Changes

Several analysts have recently commented on SNYR shares. Ascendiant Capital Markets raised their target price 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 cut Synergy CHC from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Friday, April 10th. Two research 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 an average rating of “Hold” and an average price target of $6.25.

Synergy CHC Price Performance

SNYR traded down $0.01 during trading on Tuesday, reaching $0.20. 1,250,017 shares of the stock traded hands, compared to its average volume of 6,753,715. The stock has a market cap of $2.97 million, a price-to-earnings ratio of -0.14 and a beta of -0.27. Synergy CHC has a fifty-two week low of $0.19 and a fifty-two week high of $4.00. The stock’s 50-day simple moving average is $0.44 and its two-hundred day simple moving average is $1.25.

Synergy CHC (NASDAQ:SNYR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The firm had revenue of $5.49 million for the quarter. Synergy CHC had a negative net margin of 60.02% and a negative return on equity of 19.51%. Research analysts anticipate that Synergy CHC will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synergy CHC

Several institutional investors have recently bought and sold shares of the stock. DRW Securities LLC bought a new position in Synergy CHC during the fourth quarter valued at about $36,000. Geode Capital Management LLC raised its holdings in Synergy CHC by 29.9% during the fourth quarter. Geode Capital Management LLC now owns 36,038 shares of the company’s stock valued at $67,000 after buying an additional 8,288 shares in the last quarter. Virtu Financial LLC bought a new position in Synergy CHC during the third quarter valued at about $38,000. Heartland Advisors Inc. bought a new position in Synergy CHC during the third quarter valued at about $1,342,000. Finally, Warberg Asset Management LLC bought a new position in Synergy CHC during the third quarter valued at about $82,000.

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.