Synacor (NASDAQ:SYNC) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of Synacor from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st.
SYNC stock opened at $1.76 on Friday. The stock has a market cap of $68.97 million, a price-to-earnings ratio of -6.52 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.28 and a quick ratio of 1.28. Synacor has a 1 year low of $1.35 and a 1 year high of $2.70.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Synacor by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,379,300 shares of the information services provider’s stock worth $2,759,000 after purchasing an additional 75,700 shares during the period. Raffles Associates LP bought a new position in shares of Synacor during the second quarter worth approximately $160,000. Cowen Prime Services LLC increased its holdings in shares of Synacor by 47.7% during the second quarter. Cowen Prime Services LLC now owns 309,851 shares of the information services provider’s stock worth $620,000 after purchasing an additional 100,094 shares during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Synacor during the second quarter worth approximately $380,000. 26.57% of the stock is currently owned by institutional investors.
Synacor Company Profile
Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.
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