Short Interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Increases By 55.1%

Key Points

• Short interest rose 55.1% in April to 1,594,817 shares (about 4.4% of the stock) with a days-to-cover ratio of ~1.0, indicating increased bearish bets on Syntec Optics (NASDAQ:OPTX).
• While several institutions added or increased positions (including Arosa Capital, ARS Investment and State Street), analysts' consensus remains a "Sell"; the company reported negative EPS and margins and the stock traded at $9.40 with a $347M market cap.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 1,594,817 shares, a growth of 55.1% from the March 31st total of 1,028,275 shares. Based on an average daily volume of 1,601,303 shares, the days-to-cover ratio is currently 1.0 days. Approximately 4.4% of the company's stock are short sold.

Hedge Funds Weigh In On Syntec Optics

A number of institutional investors have recently added to or reduced their stakes in OPTX. Arosa Capital Management LP acquired a new position in Syntec Optics during the fourth quarter worth $715,000. ARS Investment Partners LLC acquired a new position in Syntec Optics during the first quarter worth $396,000. Magnus Financial Group LLC acquired a new position in Syntec Optics during the fourth quarter worth $36,000. TRU Independence Asset Management 2 LLC acquired a new position in Syntec Optics during the first quarter worth $70,000. Finally, State Street Corp increased its holdings in 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 buying an additional 7,300 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen raised Syntec Optics from a "sell" rating to a "hold" rating in a research note on Tuesday, January 13th. Weiss Ratings reissued a "sell (d)" rating on shares of Syntec Optics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Syntec Optics currently has a consensus rating of "Sell".

Syntec Optics Stock Down 1.9%

Shares of NASDAQ:OPTX traded down $0.18 during midday trading on Monday, reaching $9.40. The company had a trading volume of 828,334 shares, compared to its average volume of 1,302,946. The company has a quick ratio of 0.65, a current ratio of 1.35 and a debt-to-equity ratio of 0.37. The business's 50 day moving average price is $7.89 and its 200 day moving average price is $4.83. The stock has a market cap of $347.05 million, a PE ratio of -188.00 and a beta of -1.06. Syntec Optics has a 1-year low of $1.18 and a 1-year high of $12.20.

Syntec Optics (NASDAQ:OPTX - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $7.51 million during the quarter. Syntec Optics had a negative net margin of 6.38% and a negative return on equity of 17.19%.

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.

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