Syntec Optics (NASDAQ:OPTX) Director Acquires $29,889.72 in Stock

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Director Albert Manzone bought 3,681 shares of Syntec Optics stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $8.12 per share, with a total value of $29,889.72. Following the purchase, the director owned 33,681 shares in the company, valued at approximately $273,489.72. This represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Syntec Optics Stock Performance

Shares of OPTX stock opened at $8.52 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. The firm has a 50-day moving average of $8.66 and a 200-day moving average of $8.70. Syntec Optics Holdings, Inc. has a one year low of $1.18 and a one year high of $14.92. The company has a market cap of $343.19 million, a P/E ratio of -142.00 and a beta of -0.80.

Syntec Optics (NASDAQ:OPTX) last released its quarterly earnings results on Monday, August 10th. The company reported $0.01 earnings per share for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%. The business had revenue of $8.27 million for the quarter.

Hedge Funds Weigh In On Syntec Optics

Several institutional investors have recently added to or reduced their stakes in OPTX. Jane Street Group LLC increased its holdings in Syntec Optics by 16.0% during the fourth 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. Gables Capital Management Inc. purchased a new position in Syntec Optics in the first quarter valued at about $46,000. State Street Corp boosted its stake in Syntec Optics by 20.6% in the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after acquiring an additional 7,300 shares during the last quarter. TRU Independence Asset Management 2 LLC bought a new position in shares of Syntec Optics during the 1st quarter valued at approximately $70,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Syntec Optics during the 1st quarter valued at approximately $89,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Syntec Optics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Syntec Optics in a research report 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 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.