Short Interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Drops By 40.6%

Key Points

• Short interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) has decreased by 40.6% in September, dropping from 171,600 shares to 102,000 shares.
• As of the latest earnings report, Syntec Optics posted a net loss with an EPS of ($0.01) and a revenue of $6.56 million.
• Wall Street analysts maintain a general consensus of a "Sell" rating for Syntec Optics, with Weiss Ratings reaffirming this stance recently.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 102,000 shares, a drop of 40.6% from the September 15th total of 171,600 shares. Based on an average daily volume of 193,400 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.7% of the shares of the company are sold short. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 193,400 shares, the days-to-cover ratio is currently 0.5 days.

Syntec Optics Stock Performance

Shares of OPTX traded down $0.12 during midday trading on Tuesday, reaching $2.68. 80,887 shares of the stock were exchanged, compared to its average volume of 151,877. Syntec Optics has a twelve month low of $0.85 and a twelve month high of $5.10. The company has a quick ratio of 0.65, a current ratio of 1.42 and a debt-to-equity ratio of 0.36. The company has a market cap of $98.76 million, a P/E ratio of -66.88 and a beta of -1.17. The stock's 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.56.

Syntec Optics (NASDAQ:OPTX - Get Free Report) last issued its quarterly earnings results on Friday, October 3rd. The company reported ($0.01) EPS for the quarter. Syntec Optics had a negative return on equity of 13.81% and a negative net margin of 5.46%.The company had revenue of $6.56 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Syntec Optics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Syntec Optics has an average rating of "Sell".

About Syntec Optics

Syntec Optics Holdings, Inc manufactures and supplies integrated optics for biomedical, defense and military, consumer, and other applications. It offers camera modules; tool design, design for manufacturing, optical and opto-mechanical design, and moldflow analysis; SPDT optics, such as freedom optics, microlens arrays, spheres and aspheres, diffractives, SPDT materials, and optical tooling; replicative molding, that includes polymer and glass molding, and molded production materials; thin film coating and coating curve materials; and precision machining and precision machining materials.

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