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

Synergy CHC Corp. (NASDAQ:SNYR) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 13,395,011 shares, the short-interest ratio is presently 0.3 days. Currently, 52.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

SNYR has been the topic of several recent research reports. Ascendiant Capital Markets raised their target price on Synergy CHC from $5.00 to $5.50 and gave the company a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings lowered Synergy CHC from a “hold (c-)” rating to a “sell (d-)” rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.25.

Synergy CHC Stock Performance

Shares of Synergy CHC stock traded down $0.01 during trading on Tuesday, reaching $0.20. The company’s stock had a trading volume of 1,250,017 shares, compared to its average volume of 6,753,715. The business’s fifty day moving average price is $0.44 and its 200-day moving average price is $1.25. The firm 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 one year low of $0.19 and a one year high of $4.00.

Synergy CHC (NASDAQ:SNYR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The business 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 60.02%. Sell-side analysts anticipate that Synergy CHC will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Synergy CHC

A number of institutional investors have recently made changes to their positions in the business. Heartland Advisors Inc. bought a new position in shares of Synergy CHC in the third quarter worth about $1,342,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 8,288 shares during the period. Warberg Asset Management LLC bought a new position in Synergy CHC during the third quarter valued at about $82,000. XTX Topco Ltd bought a new position in Synergy CHC during the second quarter valued at about $57,000. Finally, DRW Securities LLC bought a new position in Synergy CHC during the fourth quarter valued at about $36,000.

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.