Syntec Optics (NASDAQ:OPTX) Trading Up 15.7% - Here's Why

Key Points

• Shares rose 15.7% Wednesday to $10.99 (intraday high $11.00) on about 1.21 million shares traded, up from a prior close of $9.50.
• Analysts maintain a consensus "Sell" on OPTX, though Wall Street Zen recently upgraded to a "Hold" while Weiss Ratings reaffirmed a "Sell."
• Fundamentals show a market cap of about $405.8M and a negative EPS of ($0.01) on $7.51M in quarterly revenue with a -6.38% net margin, and several institutions have recently added or increased stakes; the stock trades well above its 50‑day ($7.73) and 200‑day ($4.69) moving averages.

Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) shares were up 15.7% during trading on Wednesday . The stock traded as high as $11.00 and last traded at $10.99. Approximately 1,214,284 shares traded hands during trading, an increase of 1% from the average daily volume of 1,204,468 shares. The stock had previously closed at $9.50.

Analysts Set New Price Targets

Several research analysts recently commented on OPTX shares. 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of "Sell".

Syntec Optics Price Performance

The stock has a market capitalization of $405.75 million, a price-to-earnings ratio of -219.80 and a beta of -1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.65 and a current ratio of 1.35. The company has a 50 day moving average of $7.73 and a 200 day moving average of $4.69.

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

Institutional Trading of Syntec Optics

Institutional investors have recently bought and sold shares of the business. Magnus Financial Group LLC purchased a new stake in Syntec Optics during the 4th quarter worth about $36,000. Jane Street Group LLC lifted its holdings in Syntec Optics by 16.0% during the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company's stock worth $39,000 after buying an additional 1,891 shares during the last quarter. State Street Corp lifted 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 buying an additional 7,300 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in Syntec Optics during the 1st quarter worth about $396,000. Finally, Arosa Capital Management LP purchased a new stake in Syntec Optics during the 4th quarter worth about $715,000.

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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