Synacor Inc (NASDAQ:SYNC) Short Interest Update

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Synacor Inc (NASDAQ:SYNC) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totalling 814,300 shares, an increase of 79.1% from the February 27th total of 454,600 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 237,600 shares, the days-to-cover ratio is presently 3.4 days.

In other Synacor news, Director Marwan Fawaz acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $1.04 per share, with a total value of $52,000.00. In the last three months, insiders purchased 65,000 shares of company stock worth $66,900. 25.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Ancora Advisors LLC lifted its holdings in Synacor by 3.0% during the fourth quarter. Ancora Advisors LLC now owns 480,074 shares of the information services provider’s stock valued at $730,000 after purchasing an additional 13,949 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Synacor by 71.5% during the fourth quarter. Acadian Asset Management LLC now owns 139,690 shares of the information services provider’s stock valued at $212,000 after buying an additional 58,225 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Synacor by 5.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,822,812 shares of the information services provider’s stock valued at $2,771,000 after buying an additional 93,726 shares during the last quarter. Finally, Raffles Associates LP raised its position in shares of Synacor by 77.7% during the third quarter. Raffles Associates LP now owns 551,839 shares of the information services provider’s stock valued at $773,000 after buying an additional 241,300 shares during the last quarter. 27.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SYNC opened at $0.93 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.16. Synacor has a 1-year low of $0.79 and a 1-year high of $1.85. The company has a market capitalization of $34.45 million, a P/E ratio of -4.04 and a beta of 0.56. The firm’s 50 day simple moving average is $1.14 and its two-hundred day simple moving average is $1.45.

Synacor (NASDAQ:SYNC) last issued its quarterly earnings results on Tuesday, March 3rd. The information services provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. Synacor had a negative net margin of 7.40% and a negative return on equity of 9.96%. The business had revenue of $26.81 million for the quarter.

A number of equities analysts recently issued reports on SYNC shares. Needham & Company LLC reissued a “hold” rating on shares of Synacor in a report on Monday, March 9th. ValuEngine raised shares of Synacor from a “hold” rating to a “buy” rating in a report on Monday, December 16th.

About Synacor

Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises in the United States and internationally. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.

Further Reading: Price-Sales Ratio

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