Synthomer (LON:SYNT) Stock Price Down 20.1% - What's Next?

Key Points

• Synthomer plc shares experienced a sharp decline of 20.1%, trading down to GBX 63 ($0.84) after closing at GBX 78.80 ($1.05). This plunge occurred amid an unprecedented trading volume of over 6 million shares, significantly higher than its average.
• Analyst forecasts led to new price targets, with Jefferies maintaining a "hold" rating at GBX 100 ($1.33), while Deutsche Bank lowered their target from GBX 140 ($1.86) to GBX 115 ($1.53), also rating the stock as a "hold".
• Insider trading showed increased confidence, with two insiders purchasing a combined total of 39,920 shares at prices around GBX 99 ($1.32) and GBX 64 ($0.85), reflecting a significant insider ownership of 28% in the company.

Synthomer plc (LON:SYNT - Get Free Report) shares were down 20.1% on Tuesday . The stock traded as low as GBX 62 ($0.82) and last traded at GBX 63 ($0.84). Approximately 6,089,601 shares traded hands during mid-day trading, an increase of 730% from the average daily volume of 733,974 shares. The stock had previously closed at GBX 78.80 ($1.05).

Analysts Set New Price Targets

SYNT has been the topic of a number of research reports. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 100 ($1.33) price objective on shares of Synthomer in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Synthomer from GBX 140 ($1.86) to GBX 115 ($1.53) and set a "hold" rating on the stock in a report on Wednesday, July 30th.

Synthomer Stock Down 20.1%

The stock has a market capitalization of £103.31 million, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of -0.17 and a beta of 1.79. The company has a debt-to-equity ratio of 78.27, a current ratio of 1.90 and a quick ratio of 0.97. The firm has a 50 day simple moving average of GBX 102.18 and a 200-day simple moving average of GBX 110.90.

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

Insiders Place Their Bets

In other news, insider Janet E. Ashdown bought 19,920 shares of the stock in a transaction on Thursday, July 3rd. The stock was acquired at an average price of GBX 99 ($1.32) per share, with a total value of £19,720.80 ($26,220.98). Also, insider Lily Liu purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of GBX 64 ($0.85) per share, with a total value of £12,800 ($17,019.01). 28.00% of the stock is currently owned by 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.

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