Synthomer (LON:SYNT) Shares Down 49.6% – Here’s Why

Synthomer plc (LON:SYNT)’s share price dropped 49.6% on Wednesday . The stock traded as low as GBX 26.31 and last traded at GBX 28.60. Approximately 10,978,723 shares traded hands during mid-day trading, an increase of 1,001% from the average daily volume of 997,472 shares. The stock had previously closed at GBX 56.80.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Synthomer from GBX 96 to GBX 62 and set a “hold” rating for the company in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 90.50.

Synthomer Price Performance

The company has a market cap of £46.76 million, a price-to-earnings ratio of -0.56, a P/E/G ratio of -0.17 and a beta of 1.79. The company has a debt-to-equity ratio of 78.27, a quick ratio of 0.97 and a current ratio of 1.90. The company’s 50 day moving average price is GBX 59.45 and its 200 day moving average price is GBX 61.26.

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.