Synthomer (LON:SYNT) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Synthomer plc (LON:SYNT) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 252.54 ($3.28) and traded as low as GBX 174.40 ($2.26). Synthomer shares last traded at GBX 175.40 ($2.28), with a volume of 314,435 shares changing hands.

Wall Street Analysts Forecast Growth

SYNT has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of Synthomer from GBX 220 ($2.86) to GBX 250 ($3.25) and gave the company a “hold” rating in a report on Friday, July 12th. Canaccord Genuity Group reduced their price objective on Synthomer from GBX 300 ($3.90) to GBX 275 ($3.57) and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Berenberg Bank lowered their target price on Synthomer from GBX 375 ($4.87) to GBX 340 ($4.41) and set a “buy” rating on the stock in a research report on Tuesday, August 13th.

Synthomer Stock Performance

The company has a current ratio of 1.90, a quick ratio of 0.97 and a debt-to-equity ratio of 77.42. The company has a market cap of £292.14 million, a P/E ratio of -287.54, a PEG ratio of -0.17 and a beta of 1.79. The business’s 50 day simple moving average is GBX 215.54 and its 200 day simple moving average is GBX 252.54.

About Synthomer

Synthomer plc operates as a specialty chemicals company in the United Kingdom and internationally. It operates through five segments: Performance Elastomers, Functional Solutions, Industrial Specialities, Acrylate Monomers, and Adhesive Technologies. The company offers adhesives, including PSA labels, packaging and specialty tapes, saturants, release coatings, wood working, wet glues, hygiene and contact adhesives, packaging and assembly hot melt adhesives; coatings products such as architectural, masonry, intumescent, metal, wood, soil releases, blinders, ink receptive, polyester for powder coatings, SYNTHOMER NX for coalescing agents, and SYNOLOX BEPF for glycol.