Synthomer (LON:SYNT) Stock Price Down 49.6% – Here’s What Happened

Shares of Synthomer plc (LON:SYNT) dropped 49.6% during mid-day trading on Wednesday . The company traded as low as GBX 26.31 and last traded at GBX 28.60. Approximately 10,978,723 shares changed hands during mid-day trading, an increase of 1,001% from the average daily volume of 997,472 shares. The stock had previously closed at GBX 56.80.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reduced their price target on Synthomer from GBX 96 to GBX 62 and set a “hold” rating on the stock in a research report on Monday, February 2nd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 90.50.

Synthomer Trading Down 49.6%

The company has a debt-to-equity ratio of 78.27, a quick ratio of 0.97 and a current ratio of 1.90. The business’s 50 day moving average price is GBX 58.79 and its 200-day moving average price is GBX 61.04. The firm has a market cap of £46.76 million, a price-to-earnings ratio of -0.56, a price-to-earnings-growth ratio of -0.17 and a beta of 1.79.

Synthomer Company Profile

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.