Syntec Optics (NASDAQ:OPTX) Shares Down 1.3% – What’s Next?

Shares of Syntec Optics Holdings, Inc. (NASDAQ:OPTX) traded down 1.3% during mid-day trading on Wednesday . The stock traded as low as $8.20 and last traded at $8.31. Approximately 208,364 shares traded hands during trading, a decline of 63% from the average session volume of 569,615 shares. The stock had previously closed at $8.42.

Analyst Ratings Changes

A number of equities analysts recently commented on OPTX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a research note on Thursday, July 2nd. Wall Street Zen cut Syntec Optics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Syntec Optics currently has an average rating of “Sell”.

Syntec Optics Price Performance

The firm has a market capitalization of $334.73 million, a P/E ratio of -103.88 and a beta of -0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $10.41 and its 200 day simple moving average is $8.20.

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

Institutional Investors Weigh In On Syntec Optics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in Syntec Optics by 16.0% in 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 increased its position 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 worth $122,000 after purchasing an additional 7,300 shares in the last quarter. Arosa Capital Management LP acquired a new position in shares of Syntec Optics during the fourth quarter worth $715,000. ARS Investment Partners LLC acquired a new position in shares of Syntec Optics during the first quarter worth $396,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Syntec Optics during the 1st quarter valued at $70,000.

Syntec Optics Company Profile

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.