Synergy CHC (NASDAQ:SNYR) Shares Up 2.3% – What’s Next?

Synergy CHC Corp. (NASDAQ:SNYR)’s share price shot up 2.3% on Tuesday . The stock traded as high as $0.2749 and last traded at $0.2680. 1,804,826 shares changed hands during trading, a decline of 74% from the average session volume of 6,909,641 shares. The stock had previously closed at $0.2620.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNYR. Ascendiant Capital Markets lifted their price objective on Synergy CHC from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings cut Synergy CHC from a “hold (c-)” rating to a “sell (d-)” rating in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.25.

Synergy CHC Stock Down 6.7%

The company has a 50 day moving average of $0.52 and a 200 day moving average of $1.31. The firm has a market cap of $3.77 million, a price-to-earnings ratio of -0.18 and a beta of -0.27.

Synergy CHC (NASDAQ:SNYR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). Synergy CHC had a negative return on equity of 19.51% and a negative net margin of 60.02%.The business had revenue of $5.49 million during the quarter. As a group, equities research analysts expect that Synergy CHC Corp. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Synergy CHC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DRW Securities LLC bought a new stake in Synergy CHC in the fourth quarter valued at about $36,000. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 8,288 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Synergy CHC during the third quarter worth approximately $38,000. Heartland Advisors Inc. acquired a new position in shares of Synergy CHC during the third quarter worth approximately $1,342,000. Finally, Warberg Asset Management LLC acquired a new position in shares of Synergy CHC during the third quarter worth approximately $82,000.

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.