Synergy CHC Corp. (NASDAQ:SNYR) Short Interest Down 98.0% in June

Synergy CHC Corp. (NASDAQ:SNYR) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 66,457 shares, a decline of 98.0% from the May 31st total of 3,404,749 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 976,229 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNYR. Weiss Ratings lowered Synergy CHC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Zacks Research lowered shares of Synergy CHC from a “hold” rating to a “strong sell” rating in a report on Friday, June 12th. Finally, Ascendiant Capital Markets upped their target price on shares of Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Synergy CHC presently has an average rating of “Hold” and a consensus price target of $6.25.

Synergy CHC Price Performance

Shares of NASDAQ:SNYR traded down $0.01 during trading on Thursday, reaching $0.20. The stock had a trading volume of 147,528 shares, compared to its average volume of 1,973,544. The stock has a market capitalization of $3.06 million, a PE ratio of -0.14 and a beta of -0.27. Synergy CHC has a 52 week low of $0.18 and a 52 week high of $4.00. The business’s 50-day moving average price is $0.30 and its 200 day moving average price is $1.10.

Synergy CHC (NASDAQ:SNYR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter. Analysts forecast that Synergy CHC will post -0.19 EPS for the current year.

Institutional Trading of Synergy CHC

Several large investors have recently made changes to their positions in SNYR. Geode Capital Management LLC acquired a new stake in shares of Synergy CHC in the second quarter valued at $29,000. DRW Securities LLC bought a new position in shares of Synergy CHC in the fourth quarter valued at about $36,000. Virtu Financial LLC acquired a new position in Synergy CHC during the 3rd quarter worth about $38,000. Finally, XTX Topco Ltd acquired a new position in Synergy CHC during the 2nd quarter worth 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.