Synergy CHC Corp. (NASDAQ:SNYR) Sees Large Increase in Short Interest

Synergy CHC Corp. (NASDAQ:SNYR) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 55,858 shares, a growth of 51.4% from the February 26th total of 36,883 shares. Based on an average daily volume of 20,360 shares, the short-interest ratio is currently 2.7 days. Approximately 1.1% of the company’s shares are short sold.

Synergy CHC Price Performance

SNYR stock opened at $1.21 on Monday. Synergy CHC has a twelve month low of $0.99 and a twelve month high of $4.08. The company has a market cap of $13.61 million, a P/E ratio of 4.17 and a beta of 3.64. The business’s fifty day moving average is $1.53 and its 200-day moving average is $1.93.

Hedge Funds Weigh In On Synergy CHC

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Synergy CHC by 29.9% in the 4th quarter. Geode Capital Management LLC now owns 36,038 shares of the company’s stock valued at $67,000 after acquiring an additional 8,288 shares during the last quarter. Virtu Financial LLC bought a new position in Synergy CHC during the 3rd quarter worth approximately $38,000. Sanders Morris Harris LLC grew its holdings in Synergy CHC by 5.0% during the third quarter. Sanders Morris Harris LLC now owns 391,702 shares of the company’s stock valued at $956,000 after purchasing an additional 18,701 shares during the period. DRW Securities LLC bought a new stake in Synergy CHC in the fourth quarter valued at approximately $36,000. Finally, XTX Topco Ltd bought a new stake in Synergy CHC in the second quarter valued at approximately $57,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Ascendiant Capital Markets began coverage on Synergy CHC in a research note on Monday, February 2nd. They issued a “buy” rating and a $5.00 target price for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Synergy CHC in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Synergy CHC Company Profile

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.