Insider Buying: Syntec Optics (NASDAQ:OPTX) Director Purchases $29,889.72 in Stock

Key Points

• Director Albert Manzone purchased 3,681 Syntec Optics shares for approximately $29,890, increasing his ownership by 12.27% to 33,681 shares.
• OPTX shares rose 5.8% to $8.30, but the company reported a negative net margin and return on equity; quarterly revenue was $8.27 million with earnings per share of $0.01.
• Analyst sentiment remains negative, with Syntec Optics carrying an average “Sell” rating, despite new institutional investments including a roughly $7.66 million position from Tema ETFs.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) Director Albert Manzone bought 3,681 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $8.12 per share, with a total value of $29,889.72. Following the acquisition, the director owned 33,681 shares of the company's stock, valued at $273,489.72. The trade was a 12.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Syntec Optics Stock Up 5.8%

OPTX stock traded up $0.46 during trading on Wednesday, reaching $8.30. The stock had a trading volume of 145,194 shares, compared to its average volume of 1,068,100. The company has a quick ratio of 4.45, a current ratio of 5.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $334.20 million, a price-to-earnings ratio of -139.10 and a beta of -0.80. Syntec Optics Holdings, Inc. has a one year low of $1.18 and a one year high of $14.92. The company's 50 day moving average is $8.88 and its two-hundred day moving average is $8.71.

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. The firm had revenue of $8.27 million for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Syntec Optics from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings reissued a "sell (e+)" rating on shares of Syntec Optics in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Syntec Optics currently has an average rating of "Sell".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OPTX. Tema ETFs LLC purchased a new stake in Syntec Optics in the 2nd quarter worth about $7,662,000. Royal Bank of Canada purchased a new position in Syntec Optics in the 1st quarter valued at approximately $516,000. OMERS ADMINISTRATION Corp purchased a new position in Syntec Optics in the 1st quarter valued at approximately $89,000. Gables Capital Management Inc. bought a new stake in Syntec Optics during the 1st quarter valued at $46,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Syntec Optics during the first quarter worth $70,000.

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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