Syntec Optics (NASDAQ:OPTX) Director Buys $50,000.00 in Stock

Key Points

• Director Albert Manzone purchased 5,000 Syntec Optics shares at $10 each, investing $50,000 and increasing his stake by 20% to 30,000 shares.
• OPTX shares rose 5.8% to $8.30 in midday trading, with a market capitalization of approximately $334.2 million. The company reported quarterly revenue of $8.27 million and earnings of $0.01 per share.
• Despite recent institutional buying, analyst sentiment remains negative: Syntec Optics carries an average “Sell” rating, while one research firm upgraded the stock to “Hold.”

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) Director Albert Manzone acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average price of $10.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director owned 30,000 shares of the company's stock, valued at $300,000. This represents a 20.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Albert Manzone also recently made the following trade(s):

• On Wednesday, August 19th, Albert Manzone acquired 3,681 shares of Syntec Optics stock. The stock was acquired at an average cost of $8.12 per share, for a total transaction of $29,889.72.

Syntec Optics Stock Up 5.8%

OPTX stock traded up $0.46 during midday trading on Wednesday, hitting $8.30. The company's stock had a trading volume of 145,194 shares, compared to its average volume of 1,068,100. The stock has a market capitalization of $334.20 million, a P/E ratio of -139.10 and a beta of -0.80. The company's fifty day moving average price is $8.88 and its 200 day moving average price is $8.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. 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 issued its quarterly earnings results on Monday, August 10th. The company reported $0.01 EPS for the quarter. Syntec Optics had a negative return on equity of 16.50% and a negative net margin of 8.26%.The firm had revenue of $8.27 million during the quarter.

Hedge Funds Weigh In On Syntec Optics

Several hedge funds and other institutional investors have recently modified their holdings of OPTX. Tema ETFs LLC acquired a new position in shares of Syntec Optics during the 2nd quarter worth $7,662,000. Arosa Capital Management LP acquired a new stake in shares of Syntec Optics in the 4th quarter valued at approximately $715,000. Royal Bank of Canada acquired a new stake in shares of Syntec Optics in the 1st quarter valued at approximately $516,000. ARS Investment Partners LLC bought a new stake in shares of Syntec Optics during the first quarter worth $396,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Syntec Optics in the first quarter valued at about $89,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OPTX. 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 research report on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

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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