ARS Investment Partners LLC Acquires New Position in Syntec Optics Holdings, Inc. $OPTX

ARS Investment Partners LLC acquired a new stake in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 56,330 shares of the company’s stock, valued at approximately $396,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Magnus Financial Group LLC bought a new position in Syntec Optics in the 4th quarter worth about $36,000. Jane Street Group LLC raised its stake in shares of Syntec Optics by 16.0% during the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after acquiring an additional 1,891 shares in the last quarter. State Street Corp raised its stake in shares of Syntec Optics by 20.6% during the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Arosa Capital Management LP purchased a new stake in shares of Syntec Optics in the fourth quarter valued at approximately $715,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Syntec Optics presently has a consensus rating of “Sell”.

Syntec Optics Stock Performance

Shares of Syntec Optics stock opened at $12.11 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average price is $10.12 and its 200-day moving average price is $6.92. The firm has a market cap of $487.79 million, a P/E ratio of -151.38 and a beta of -0.82. Syntec Optics Holdings, Inc. has a 12 month low of $1.18 and a 12 month high of $14.92.

Syntec Optics (NASDAQ:OPTX) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.02) earnings per share for the quarter. Syntec Optics had a negative return on equity of 30.86% and a negative net margin of 10.95%.The business had revenue of $6.51 million during the quarter.

About Syntec Optics

Syntec Optics, Inc operates as a photonics company specializing in the design, development and manufacturing of precision optical components and subsystems. Its core offerings include thin-film filters, dichroic beamsplitters, anti-reflection coated lenses and custom optical assemblies. The company leverages proprietary coating technologies to deliver high-performance imaging solutions and spectral filters for visible, infrared and multispectral applications.

In addition to standard catalog products, Syntec Optics provides custom engineering services tailored to meet the specifications of customers in aerospace and defense, industrial automation, environmental sensing and life-sciences markets.