Synthomer (LON:SYNT) Shares Pass Below 200 Day Moving Average - Here's Why

Key Points

• Synthomer's share price has dipped below its 200-day moving average, trading as low as GBX 71.80 ($0.96) before closing at GBX 73.30 ($0.98).
• Analysts have adjusted their price targets, with Berenberg Bank lowering its target from GBX 120 to GBX 80, maintaining a "hold" rating, alongside similar actions from Deutsche Bank and Jefferies.
• Recent insider transactions show significant purchases, with two insiders acquiring over 79,000 shares total, indicating potential confidence in the company's future performance.

Synthomer plc (LON:SYNT - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 89.91 ($1.21) and traded as low as GBX 71.80 ($0.96). Synthomer shares last traded at GBX 73.30 ($0.98), with a volume of 485,865 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Berenberg Bank dropped their price target on shares of Synthomer from GBX 120 to GBX 80 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Synthomer from GBX 140 to GBX 115 and set a "hold" rating on the stock in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a GBX 100 price target on shares of Synthomer in a report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of GBX 142.50.

Synthomer Trading Up 1.4%

The company has a quick ratio of 0.97, a current ratio of 1.90 and a debt-to-equity ratio of 78.27. The firm's fifty day moving average is GBX 69.29 and its two-hundred day moving average is GBX 89.91. The firm has a market cap of £121.46 million, a P/E ratio of -145.40, a PEG ratio of -0.17 and a beta of 1.79.

Synthomer (LON:SYNT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported GBX (5.40) EPS for the quarter. Synthomer had a negative return on equity of 7.52% and a negative net margin of 4.40%. Analysts predict that Synthomer plc will post 12.962963 earnings per share for the current fiscal year.

Insider Transactions at Synthomer

In other news, insider Lily Liu bought 20,000 shares of Synthomer stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of GBX 64 per share, for a total transaction of £12,800. Also, insider Jonathan Silver bought 59,229 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of GBX 65 per share, with a total value of £38,498.85. In the last 90 days, insiders acquired 124,149 shares of company stock valued at $8,701,965. Insiders own 4.99% of the company's stock.

About Synthomer

Synthomer plc is a leading supplier of high-performance, highly specialised polymers and ingredients that play vital roles in key sectors such as coatings, construction, adhesives, and health and protection – growing markets for customers who serve billions of end users worldwide. Headquartered in London, UK and listed on the LSE since 1971, we employ c.3,900 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.

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