Tidal Investments LLC Buys Shares of 613,879 Syntec Optics Holdings, Inc. $OPTX

Key Points

• Tidal Investments acquired 613,879 shares of Syntec Optics, valued at approximately $7.64 million, giving it a 1.52% stake. Several other institutional investors also increased or initiated positions.
• Director Albert Manzone purchased 3,681 shares at an average price of $8.12, increasing his holdings by 12.27%; insiders collectively own 0.83% of the company.
• Syntec Optics reported quarterly revenue of $8.27 million and EPS of $0.01, but continues to post negative profitability metrics. Analysts maintain a consensus “Sell” rating, while shares recently opened at $7.10.

Tidal Investments LLC bought a new stake in Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 613,879 shares of the company's stock, valued at approximately $7,643,000. Tidal Investments LLC owned 1.52% of Syntec Optics at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OPTX. Jane Street Group LLC boosted its holdings 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 worth $39,000 after purchasing an additional 1,891 shares during the period. Gables Capital Management Inc. purchased a new stake in Syntec Optics in the 1st quarter worth approximately $46,000. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Syntec Optics during the 1st quarter valued at $70,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Syntec Optics during the 1st quarter valued at $89,000. Finally, State Street Corp boosted its stake in shares of Syntec Optics by 20.6% during the 4th quarter. State Street Corp now owns 42,800 shares of the company's stock valued at $122,000 after buying an additional 7,300 shares during the period.

Insider Activity

In other Syntec Optics news, Director Albert Manzone acquired 3,681 shares of Syntec Optics stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $8.12 per share, with a total value of $29,889.72. Following the purchase, the director owned 33,681 shares in the company, valued at approximately $273,489.72. This trade represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Syntec Optics in a research note on Thursday, July 2nd. Wall Street Zen raised Syntec Optics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

Syntec Optics Price Performance

Shares of OPTX opened at $7.10 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.45 and a current ratio of 5.97. The firm has a market cap of $285.99 million, a PE ratio of -118.33 and a beta of -0.77. The firm's 50 day moving average price is $7.96 and its 200 day moving average price is $8.79. Syntec Optics Holdings, Inc. has a twelve month low of $1.18 and a twelve month high of $14.92.

Syntec Optics (NASDAQ:OPTX - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.01 EPS for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%. The company had revenue of $8.27 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.

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