Synacor (NASDAQ:SYNC) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Synacor (NASDAQ:SYNC) from a hold rating to a buy rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.

NASDAQ SYNC traded down $0.06 during trading on Monday, hitting $1.47. 222,222 shares of the company’s stock were exchanged, compared to its average volume of 51,406. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $57.41 million, a price-to-earnings ratio of -11.31 and a beta of 0.48. Synacor has a fifty-two week low of $1.40 and a fifty-two week high of $2.50.

Synacor (NASDAQ:SYNC) last issued its earnings results on Wednesday, March 13th. The information services provider reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Synacor had a negative return on equity of 12.88% and a negative net margin of 5.25%. The firm had revenue of $39.40 million during the quarter. On average, sell-side analysts predict that Synacor will post -0.02 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in SYNC. Cowen Prime Services LLC boosted its holdings in shares of Synacor by 5.8% during the 4th quarter. Cowen Prime Services LLC now owns 330,225 shares of the information services provider’s stock worth $489,000 after buying an additional 18,074 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Synacor in the 4th quarter worth $711,000. Emancipation Management LLC lifted its holdings in shares of Synacor by 2.1% in the 4th quarter. Emancipation Management LLC now owns 626,808 shares of the information services provider’s stock worth $928,000 after purchasing an additional 12,700 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Synacor by 4.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,437,200 shares of the information services provider’s stock worth $2,300,000 after purchasing an additional 57,900 shares in the last quarter. 26.76% of the stock is owned by institutional investors.

About Synacor

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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