Synthomer (LON:SYNT) Stock Price Down 20.1% - Here's What Happened

Key Points

• Synthomer plc shares fell by 20.1%, closing at GBX 63 ($0.84) after trading as low as GBX 62 ($0.82).
• Several analysts have downgraded their price targets, with Jefferies setting a price objective of GBX 100 ($1.33) while Deutsche Bank reduced theirs from GBX 140 ($1.86) to GBX 115 ($1.53).
• Company insiders have shown confidence by purchasing shares, with Lily Liu buying 20,000 shares at an average price of GBX 64 ($0.85) and Janet E. Ashdown acquiring 19,920 shares at an average price of GBX 99 ($1.32).

Synthomer plc (LON:SYNT - Get Free Report)'s share price fell 20.1% during mid-day trading on Tuesday . The stock traded as low as GBX 62 ($0.83) and last traded at GBX 63 ($0.84). 6,089,601 shares traded hands during mid-day trading, an increase of 730% from the average session volume of 733,974 shares. The stock had previously closed at GBX 78.80 ($1.05).

Analyst Ratings Changes

Several research analysts have weighed in on SYNT shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 100 ($1.34) target price on shares of Synthomer in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Synthomer from GBX 140 ($1.87) to GBX 115 ($1.54) and set a "hold" rating for the company in a research report on Wednesday, July 30th.

Synthomer Price Performance

The company has a market capitalization of £103.63 million, a P/E ratio of -1.27, a PEG ratio of -0.17 and a beta of 1.79. 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 company's fifty day moving average price is GBX 101.36 and its 200 day moving average price is GBX 110.56.

Synthomer (LON:SYNT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported GBX (5.40) (($0.07)) EPS for the quarter. Synthomer had a negative return on equity of 7.52% and a negative net margin of 4.40%. As a group, sell-side analysts forecast that Synthomer plc will post 12.962963 EPS for the current year.

Insider Activity at Synthomer

In other Synthomer news, insider Lily Liu acquired 20,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of GBX 64 ($0.85) per share, with a total value of £12,800 ($17,098.58). Also, insider Janet E. Ashdown acquired 19,920 shares of the stock in a transaction dated Thursday, July 3rd. The shares were bought at an average price of GBX 99 ($1.32) per share, for a total transaction of £19,720.80 ($26,343.57). In the last ninety days, insiders have acquired 99,149 shares of company stock worth $7,101,965. 28.00% of the stock is owned by corporate insiders.

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.