Short Interest in Synergy CHC Corp. (NASDAQ:SNYR) Drops By 87.1%

Synergy CHC Corp. (NASDAQ:SNYR) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 229,140 shares, a drop of 87.1% from the April 15th total of 1,772,777 shares. Based on an average daily volume of 815,423 shares, the short-interest ratio is currently 0.3 days. Currently, 3.5% of the company’s shares are sold short.

Institutional Trading of Synergy CHC

A number of hedge funds and other institutional investors have recently made changes to their positions in SNYR. Geode Capital Management LLC lifted its holdings in shares of Synergy CHC by 29.9% in the fourth 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 in the last quarter. Virtu Financial LLC purchased a new position in shares of Synergy CHC during the third quarter worth approximately $38,000. DRW Securities LLC bought a new stake in shares of Synergy CHC in the 4th quarter valued at about $36,000. XTX Topco Ltd bought a new stake in Synergy CHC in the second quarter valued at approximately $57,000. Finally, Warberg Asset Management LLC purchased a new stake in shares of Synergy CHC during the third quarter worth about $82,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SNYR shares. Weiss Ratings cut shares of Synergy CHC from a “hold (c-)” rating to a “sell (d-)” rating in a report on Friday, April 10th. Ascendiant Capital Markets boosted their price objective on Synergy CHC from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.25.

Synergy CHC Stock Down 8.4%

Synergy CHC stock traded down $0.03 during trading on Thursday, hitting $0.27. The stock had a trading volume of 818,003 shares, compared to its average volume of 1,048,006. The stock has a market cap of $4.09 million, a price-to-earnings ratio of -0.26 and a beta of -0.26. Synergy CHC has a 1 year low of $0.27 and a 1 year high of $4.00. The stock’s 50 day moving average is $0.80 and its two-hundred day moving average is $1.50.

Synergy CHC (NASDAQ:SNYR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.26). The firm had revenue of $5.49 million during the quarter. Synergy CHC had a negative return on equity of 19.51% and a negative net margin of 42.59%. As a group, equities research analysts anticipate that Synergy CHC will post 0.13 EPS for the current fiscal year.

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.