Short Interest in Synergy CHC Corp. (NASDAQ:SNYR) Expands By 139.8%

Synergy CHC Corp. (NASDAQ:SNYR) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 159,367 shares, a growth of 139.8% from the June 15th total of 66,457 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 533,717 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Ascendiant Capital Markets increased their target price on shares of Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Zacks Research downgraded Synergy CHC from a “hold” rating to a “strong sell” rating in a research note on Friday, June 12th. Finally, Weiss Ratings upgraded Synergy CHC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Synergy CHC has a consensus rating of “Hold” and an average price target of $6.25.

Synergy CHC Trading Down 1.2%

SNYR traded down $0.00 during trading on Tuesday, hitting $0.19. The stock had a trading volume of 23,221 shares, compared to its average volume of 1,818,097. The firm has a market cap of $2.88 million, a PE ratio of -0.14 and a beta of -0.14. Synergy CHC has a 12 month low of $0.18 and a 12 month high of $4.00. The company has a 50 day simple moving average of $0.24 and a 200-day simple moving average of $0.96.

Synergy CHC (NASDAQ:SNYR) last released its quarterly 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. As a group, sell-side analysts anticipate that Synergy CHC will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Synergy CHC

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Synergy CHC in the 2nd quarter valued at approximately $57,000. DRW Securities LLC acquired a new position in shares of Synergy CHC during the fourth quarter worth approximately $36,000. Virtu Financial LLC acquired a new position in shares of Synergy CHC during the third quarter worth approximately $38,000. Finally, Geode Capital Management LLC acquired a new position in shares of Synergy CHC during the second quarter worth approximately $29,000.

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.