Short Interest in Synergy CHC Corp. (NASDAQ:SNYR) Declines By 37.5%

Synergy CHC Corp. (NASDAQ:SNYR) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 17,203 shares, a decline of 37.5% from the November 30th total of 27,527 shares. Based on an average trading volume of 30,513 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the shares of the company are sold short. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 30,513 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SNYR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Synergy CHC in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of Synergy CHC from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Roth Capital dropped their price objective on shares of Synergy CHC from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Synergy CHC has an average rating of “Moderate Buy” and an average price target of $8.50.

Hedge Funds Weigh In On Synergy CHC

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC bought a new position in Synergy CHC during the second quarter worth about $29,000. Virtu Financial LLC bought a new stake in Synergy CHC in the 3rd quarter valued at about $38,000. Sanders Morris Harris LLC boosted its holdings in Synergy CHC by 5.0% in the 3rd quarter. Sanders Morris Harris LLC now owns 391,702 shares of the company’s stock valued at $956,000 after purchasing an additional 18,701 shares during the period. XTX Topco Ltd acquired a new position in shares of Synergy CHC during the 2nd quarter worth approximately $57,000. Finally, Warberg Asset Management LLC bought a new position in shares of Synergy CHC during the third quarter worth approximately $82,000.

Synergy CHC Trading Up 0.4%

Shares of NASDAQ SNYR opened at $1.86 on Friday. The firm has a market cap of $20.93 million, a P/E ratio of 6.41 and a beta of 3.46. Synergy CHC has a 1-year low of $1.30 and a 1-year high of $4.98. The business’s 50 day moving average is $2.09 and its 200-day moving average is $2.58.

Synergy CHC (NASDAQ:SNYR) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Synergy CHC had a negative return on equity of 19.51% and a net margin of 7.77%.The business had revenue of $8.01 million during the quarter. Analysts forecast that Synergy CHC will post 0.36 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.