Zacks Research Upgrades Synergy CHC (NASDAQ:SNYR) to “Hold”

Synergy CHC (NASDAQ:SNYR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

SNYR has been the subject of several other research reports. Weiss Ratings upgraded shares of Synergy CHC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Ascendiant Capital Markets increased their price objective on shares of Synergy CHC from $5.00 to $5.50 and gave the company a “buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.25.

Synergy CHC Stock Up 0.8%

Shares of SNYR stock opened at $0.17 on Monday. The firm has a market cap of $2.51 million, a price-to-earnings ratio of -0.12 and a beta of -0.14. Synergy CHC has a 12 month low of $0.16 and a 12 month high of $3.99. The stock has a 50-day moving average price of $0.20 and a 200 day moving average price of $0.71.

Synergy CHC (NASDAQ:SNYR) last released its earnings results on Thursday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The business had revenue of $5.49 million for the quarter. Sell-side analysts predict that Synergy CHC will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synergy CHC

Several hedge funds have recently added to or reduced their stakes in SNYR. DRW Securities LLC acquired a new position in Synergy CHC in the fourth quarter valued at about $36,000. Geode Capital Management LLC grew its position in shares of Synergy CHC by 29.9% during the 4th quarter. Geode Capital Management LLC now owns 36,038 shares of the company’s stock worth $67,000 after buying an additional 8,288 shares during the period. Virtu Financial LLC acquired a new position in shares of Synergy CHC during the 3rd quarter worth about $38,000. Finally, XTX Topco Ltd bought a new stake in shares of Synergy CHC in the 2nd quarter valued at about $57,000.

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.