Syntec Optics (NASDAQ:OPTX) Shares Down 5.8% - Here's Why

Key Points

• Syntec Optics shares fell by 5.8% on mid-day trading, closing at $1.45, with a notable drop in trading volume by 53% compared to its average session.
• Recent institutional activity includes Tower Research Capital LLC increasing its stake by 205.8%, while other firms like Two Sigma Investments LP and Jane Street Group LLC also acquired new positions in the company.
• The company's operations focus on integrated optics for various applications, including biomedical and defense, with offerings such as camera modules and precision machining services.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - )'s share price traded down 5.8% during mid-day trading on Wednesday . The company traded as low as $1.45 and last traded at $1.45. 71,332 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 151,360 shares. The stock had previously closed at $1.54.

Syntec Optics Stock Down 5.8%

The business's 50 day moving average price is $1.51 and its 200-day moving average price is $1.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Syntec Optics by 205.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,555 shares of the company's stock worth $29,000 after acquiring an additional 7,777 shares in the last quarter. Two Sigma Investments LP acquired a new position in Syntec Optics during the 4th quarter worth approximately $31,000. Geode Capital Management LLC grew its holdings in Syntec Optics by 23.9% during the 4th quarter. Geode Capital Management LLC now owns 83,009 shares of the company's stock worth $209,000 after acquiring an additional 16,033 shares in the last quarter. Jane Street Group LLC acquired a new position in Syntec Optics during the 4th quarter worth approximately $86,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Syntec Optics during the 4th quarter worth approximately $125,000.

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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