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

Synthomer plc (LON:SYNT)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 243.55 ($3.07) and traded as low as GBX 170 ($2.14). Synthomer shares last traded at GBX 174 ($2.19), with a volume of 241,692 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on SYNT. Canaccord Genuity Group reduced their target price on Synthomer from GBX 300 ($3.78) to GBX 275 ($3.47) and set a “buy” rating for the company in a research note on Friday, October 4th. Berenberg Bank dropped their price target on Synthomer from GBX 375 ($4.73) to GBX 340 ($4.28) and set a “buy” rating on the stock in a research report on Tuesday, August 13th.

Synthomer Price Performance

The company has a 50 day moving average of GBX 194.27 and a two-hundred day moving average of GBX 242.92. The firm has a market cap of £284.61 million, a P/E ratio of -285.25, 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 77.42.

Synthomer Company Profile

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.