Syntec Optics (NASDAQ:OPTX) Trading Down 1.3% - Time to Sell?

Key Points

• Syntec Optics shares fell 1.3% on Wednesday, trading as low as $8.20 before closing at $8.31. Trading volume was well below normal, with 208,364 shares changing hands versus an average of 569,615.
• Wall Street sentiment remains bearish on OPTX, with Wall Street Zen downgrading the stock from hold to sell and Weiss Ratings reiterating a sell (e+) rating. MarketBeat data shows the stock’s average rating is currently “Sell.”
• Recent fundamentals were weak, as the company reported a $0.02 quarterly loss per share on $6.51 million in revenue. Syntec Optics also posted a negative net margin of 10.95% and a negative return on equity of 30.86%.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report)'s share price fell 1.3% on Wednesday . The company traded as low as $8.20 and last traded at $8.31. 208,364 shares changed hands during trading, a decline of 63% from the average session volume of 569,615 shares. The stock had previously closed at $8.42.

Analyst Upgrades and Downgrades

OPTX has been the topic of a number of research reports. Wall Street Zen downgraded shares of Syntec Optics from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Syntec Optics in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Syntec Optics has an average rating of "Sell".

Syntec Optics Stock Down 1.3%

The stock has a market cap of $334.73 million, a PE ratio of -103.88 and a beta of -0.86. The business has a fifty day moving average of $10.41 and a 200-day moving average of $8.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.59.

Syntec Optics (NASDAQ:OPTX - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.02) earnings per share for the quarter. Syntec Optics had a negative net margin of 10.95% and a negative return on equity of 30.86%. The firm had revenue of $6.51 million for the quarter.

Hedge Funds Weigh In On Syntec Optics

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of Syntec Optics by 16.0% in the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company's stock valued at $39,000 after acquiring an additional 1,891 shares in the last quarter. Gables Capital Management Inc. bought a new position in Syntec Optics during the 1st quarter worth about $46,000. State Street Corp grew its holdings in Syntec Optics by 20.6% during the 4th quarter. State Street Corp now owns 42,800 shares of the company's stock worth $122,000 after acquiring an additional 7,300 shares in the last quarter. TRU Independence Asset Management 2 LLC purchased a new position in Syntec Optics during the 1st quarter valued at about $70,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Syntec Optics during the 1st quarter valued at about $89,000.

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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