ValuEngine Downgrades Synacor (SYNC) to Sell

Synacor (NASDAQ:SYNC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Synacor from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Canaccord Genuity decreased their price target on shares of Synacor from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Synacor presently has an average rating of “Hold” and a consensus price target of $5.00.

Shares of Synacor (NASDAQ:SYNC) traded down $0.10 on Monday, hitting $2.40. 76,183 shares of the company’s stock were exchanged, compared to its average volume of 171,790. Synacor has a 52 week low of $1.96 and a 52 week high of $4.25. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07.

Several institutional investors and hedge funds have recently made changes to their positions in SYNC. Northpointe Capital LLC boosted its holdings in shares of Synacor by 558.3% in the 3rd quarter. Northpointe Capital LLC now owns 1,649,151 shares of the information services provider’s stock valued at $4,453,000 after purchasing an additional 1,398,638 shares during the last quarter. S Squared Technology LLC acquired a new position in shares of Synacor during the 2nd quarter valued at $1,168,000. Boston Partners acquired a new position in shares of Synacor during the 2nd quarter valued at $1,122,000. UBS Oconnor LLC acquired a new position in shares of Synacor during the 2nd quarter valued at $373,000. Finally, Prudential Financial Inc. acquired a new position in shares of Synacor during the 2nd quarter valued at $274,000. Institutional investors own 30.05% of the company’s stock.

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About Synacor

Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.

Analyst Recommendations for Synacor (NASDAQ:SYNC)

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