Syntec Optics (NASDAQ:OPTX) Sets New 52-Week High – Still a Buy?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $13.76 and last traded at $13.3060, with a volume of 221620 shares trading hands. The stock had previously closed at $11.91.

Syntec Optics Stock Up 10.1%

The firm has a 50 day moving average of $9.52 and a two-hundred day moving average of $6.41. The firm has a market capitalization of $515.58 million, a price-to-earnings ratio of -160.00 and a beta of -0.82. The company has a quick ratio of 0.59, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

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

Hedge Funds Weigh In On Syntec Optics

A number of institutional investors and hedge funds have recently bought and sold shares of OPTX. Arosa Capital Management LP acquired a new position in Syntec Optics in the 4th quarter worth about $715,000. Royal Bank of Canada acquired a new position in Syntec Optics in the 1st quarter worth about $516,000. ARS Investment Partners LLC acquired a new position in Syntec Optics in the 1st quarter worth about $396,000. OMERS ADMINISTRATION Corp acquired a new position in Syntec Optics in the 1st quarter worth about $89,000. Finally, Magnus Financial Group LLC acquired a new position in Syntec Optics in the 4th quarter worth about $36,000.

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.