Synacor (NASDAQ:SYNC) Stock Price Up 6.2%

Synacor Inc (NASDAQ:SYNC)’s stock price rose 6.2% during trading on Thursday . The company traded as high as $1.58 and last traded at $1.54, approximately 135,521 shares were traded during mid-day trading. An increase of 30% from the average daily volume of 104,007 shares. The stock had previously closed at $1.45.

SYNC has been the topic of a number of research analyst reports. Craig Hallum downgraded Synacor to a “hold” rating in a research report on Friday, August 9th. ValuEngine raised Synacor from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Synacor currently has a consensus rating of “Hold”.

The company has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.56. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $51.93 million, a P/E ratio of -11.85 and a beta of 0.16.

Synacor (NASDAQ:SYNC) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported ($0.05) earnings per share for the quarter. Synacor had a negative return on equity of 10.63% and a negative net margin of 5.28%. The company had revenue of $31.85 million for the quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNC. Nations Financial Group Inc. IA ADV increased its stake in Synacor by 62.5% during the first quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the information services provider’s stock worth $31,000 after acquiring an additional 7,500 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Synacor by 28.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 160,000 shares of the information services provider’s stock worth $251,000 after acquiring an additional 35,000 shares during the last quarter. Emancipation Management LLC increased its stake in Synacor by 129.1% during the second quarter. Emancipation Management LLC now owns 987,526 shares of the information services provider’s stock worth $1,541,000 after acquiring an additional 556,522 shares during the last quarter. Acadian Asset Management LLC increased its stake in Synacor by 809.3% during the second quarter. Acadian Asset Management LLC now owns 48,918 shares of the information services provider’s stock worth $76,000 after acquiring an additional 43,538 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Synacor by 6.3% during the second quarter. Renaissance Technologies LLC now owns 1,613,711 shares of the information services provider’s stock worth $2,517,000 after acquiring an additional 95,611 shares during the last quarter. 27.58% of the stock is currently owned by institutional investors.

About Synacor (NASDAQ:SYNC)

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.

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