Wall Street Zen Upgrades Syntec Optics (NASDAQ:OPTX) to "Hold"

Key Points

• Wall Street Zen upgraded Syntec Optics from “sell” to “hold,” but Weiss Ratings maintained a “sell (e+)” rating. MarketBeat reports the stock’s average analyst rating remains “Sell.”
• Syntec Optics reported quarterly earnings of $0.01 per share on revenue of $8.27 million, while posting a negative net margin of 8.26% and negative return on equity of 16.50%.
• The stock opened at $8.81, with a market capitalization of approximately $354.9 million and a 52-week range of $1.18 to $14.92. Several institutional investors recently increased or initiated positions in the company.

Syntec Optics (NASDAQ:OPTX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Syntec Optics in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Syntec Optics has an average rating of "Sell".

Syntec Optics Price Performance

OPTX opened at $8.81 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 0.59. The stock's 50 day simple moving average is $9.45 and its 200 day simple moving average is $8.59. The firm has a market cap of $354.87 million, a price-to-earnings ratio of -146.83 and a beta of -0.80. Syntec Optics has a 1 year low of $1.18 and a 1 year high of $14.92.

Syntec Optics (NASDAQ:OPTX - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $8.27 million during the quarter. Syntec Optics had a negative return on equity of 16.50% and a negative net margin of 8.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its holdings in Syntec Optics by 16.0% in 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 period. State Street Corp grew its position in shares of Syntec Optics by 20.6% in 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. Arosa Capital Management LP purchased a new position in shares of Syntec Optics during the fourth quarter valued at approximately $715,000. ARS Investment Partners LLC purchased a new position in shares of Syntec Optics during the first quarter valued at approximately $396,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in shares of Syntec Optics during the first quarter valued at approximately $70,000.

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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