Needham & Company LLC Reaffirms Hold Rating for Synacor (NASDAQ:SYNC)

Needham & Company LLC reiterated their hold rating on shares of Synacor (NASDAQ:SYNC) in a research report released on Thursday, November 7th, AnalystRatings.com reports.

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SYNC has been the subject of a number of other reports. ValuEngine upgraded shares of Synacor from a hold rating to a buy rating in a research note on Thursday, August 1st. Craig Hallum cut shares of Synacor to a hold rating in a research note on Friday, August 9th.

Shares of SYNC traded up $0.05 during midday trading on Thursday, hitting $1.61. The stock had a trading volume of 70,300 shares, compared to its average volume of 57,007. The stock’s 50 day moving average is $1.49 and its 200 day moving average is $1.52. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 0.09. Synacor has a 1 year low of $1.28 and a 1 year high of $1.94.

A number of hedge funds and other institutional investors have recently made changes to their positions in SYNC. Acadian Asset Management LLC lifted its stake in Synacor by 809.3% during the 2nd quarter. Acadian Asset Management LLC now owns 48,918 shares of the information services provider’s stock valued at $76,000 after acquiring an additional 43,538 shares during the period. Dalton Greiner Hartman Maher & Co. acquired a new stake in Synacor during the 3rd quarter worth $202,000. Raffles Associates LP boosted its stake in Synacor by 93.4% during the 2nd quarter. Raffles Associates LP now owns 310,539 shares of the information services provider’s stock worth $484,000 after purchasing an additional 150,000 shares during the last quarter. Emancipation Management LLC boosted its position in shares of Synacor by 129.1% during the 2nd quarter. Emancipation Management LLC now owns 987,526 shares of the information services provider’s stock valued at $1,541,000 after acquiring an additional 556,522 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Synacor by 6.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,613,711 shares of the information services provider’s stock valued at $2,517,000 after acquiring an additional 95,611 shares during the last quarter. Institutional investors and hedge funds own 27.98% of the company’s stock.

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 in the United States and internationally. 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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