Synthomer (LON:SYNT) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Synthomer plc (LON:SYNT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 84.27 ($1.12) and traded as low as GBX 56.37 ($0.75). Synthomer shares last traded at GBX 57 ($0.76), with a volume of 871,413 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYNT shares. Jefferies Financial Group restated a “hold” rating and set a GBX 100 price objective on shares of Synthomer in a research report on Tuesday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of Synthomer from GBX 200 to GBX 120 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Synthomer from GBX 140 to GBX 115 and set a “hold” rating for the company in a research report on Wednesday, July 30th. Finally, Berenberg Bank dropped their target price on Synthomer from GBX 120 to GBX 80 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Synthomer has a consensus rating of “Hold” and a consensus price target of GBX 103.75.

Synthomer Price Performance

The stock has a market cap of £93.06 million, a price-to-earnings ratio of -1.11, a PEG ratio of -0.17 and a beta of 1.79. The company’s 50 day moving average is GBX 64.37 and its 200 day moving average is GBX 84.27. The company has a debt-to-equity ratio of 78.27, a current ratio of 1.90 and a quick ratio of 0.97.

Synthomer (LON:SYNT) last issued its earnings results on Tuesday, August 5th. The company reported GBX (5.40) earnings per share for the quarter. Synthomer had a negative return on equity of 7.52% and a negative net margin of 4.40%. Research analysts forecast that Synthomer plc will post 12.962963 earnings per share for the current fiscal year.

Insider Activity at Synthomer

In other news, insider Lily Liu bought 20,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of GBX 64 per share, with a total value of £12,800. Also, insider Jonathan Silver purchased 59,229 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of GBX 65 per share, with a total value of £38,498.85. Insiders bought 104,229 shares of company stock valued at $6,729,885 in the last ninety days. Corporate insiders own 4.99% of the company’s stock.

About Synthomer

Synthomer plc is a leading supplier of high-performance, highly specialised polymers and ingredients that play vital roles in key sectors such as coatings, construction, adhesives, and health and protection – growing markets for customers who serve billions of end users worldwide.

Headquartered in London, UK and listed on the LSE since 1971, we employ c.3,900 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.