Synergy CHC Corp. (NASDAQ:SNYR) Short Interest Down 50.3% in July

Synergy CHC Corp. (NASDAQ:SNYR) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 79,207 shares, a drop of 50.3% from the June 30th total of 159,367 shares. Based on an average trading volume of 208,861 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s shares are short sold.

Institutional Investors Weigh In On Synergy CHC

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Synergy CHC by 29.9% during the 4th quarter. Geode Capital Management LLC now owns 36,038 shares of the company’s stock worth $67,000 after acquiring an additional 8,288 shares in the last quarter. Virtu Financial LLC purchased a new position in Synergy CHC in the 3rd quarter worth approximately $38,000. DRW Securities LLC acquired a new stake in Synergy CHC in the fourth quarter valued at approximately $36,000. Finally, XTX Topco Ltd acquired a new stake in Synergy CHC in the second quarter valued at approximately $57,000.

Analysts Set New Price Targets

SNYR has been the subject of several research analyst reports. Ascendiant Capital Markets upped their price target on Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings raised Synergy CHC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Finally, Zacks Research cut Synergy CHC from a “hold” rating to a “strong sell” rating in a report on Friday, June 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.25.

Synergy CHC Stock Performance

Synergy CHC stock traded up $0.00 during trading on Tuesday, reaching $0.17. 31,929 shares of the company’s stock were exchanged, compared to its average volume of 1,703,102. The company’s 50-day moving average is $0.21 and its two-hundred day moving average is $0.84. Synergy CHC has a 52-week low of $0.16 and a 52-week high of $3.99. The firm has a market cap of $2.57 million, a price-to-earnings ratio of -0.12 and a beta of -0.14.

Synergy CHC (NASDAQ:SNYR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.23) earnings per share (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. Analysts anticipate that Synergy CHC will post -0.19 EPS for the current year.

Synergy CHC Company Profile

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.