Synthomer (LON:SYNT) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Synthomer plc (LON:SYNT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 78.44 and traded as low as GBX 55. Synthomer shares last traded at GBX 59.80, with a volume of 727,255 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Berenberg Bank dropped their price objective on Synthomer from GBX 120 to GBX 80 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Synthomer from GBX 140 to GBX 115 and set a “hold” rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 100 target price on shares of Synthomer in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Synthomer from GBX 200 to GBX 120 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of GBX 103.75.

Synthomer Stock Up 6.8%

The stock has a fifty day moving average price of GBX 59.32 and a two-hundred day moving average price of GBX 78.44. The company has a market cap of £97.76 million, a price-to-earnings ratio of -1.17, a P/E/G ratio of -0.17 and a beta of 1.79. The company has a quick ratio of 0.97, a current ratio of 1.90 and a debt-to-equity ratio of 78.27.

Insiders Place Their Bets

In other Synthomer news, insider Michael Willome acquired 63,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price of GBX 49 per share, with a total value of £30,870. 4.99% of the stock is owned by company insiders.

About Synthomer

Synthomer plc is a leading supplier of high-performance, highly specialised polymers and ingredients that play vital roles in key sectors such as coatings, construction, adhesives, and health and protection – growing markets for customers who serve billions of end users worldwide.

Headquartered in London, UK and listed on the LSE since 1971, we employ c.3,900 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.