Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Sees Significant Drop in Short Interest

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 744,442 shares, a decrease of 53.3% from the April 15th total of 1,594,817 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,209,866 shares, the short-interest ratio is currently 0.6 days.

Syntec Optics Stock Down 6.3%

Shares of NASDAQ:OPTX traded down $0.48 during trading on Friday, reaching $7.16. The stock had a trading volume of 759,665 shares, compared to its average volume of 1,273,679. Syntec Optics has a one year low of $1.18 and a one year high of $12.20. The company has a market capitalization of $264.88 million, a P/E ratio of -143.20 and a beta of -0.93. The company has a current ratio of 1.35, a quick ratio of 0.65 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $5.28.

Syntec Optics (NASDAQ:OPTX) last released its quarterly 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 6.38% and a negative return on equity of 17.19%. The firm had revenue of $6.51 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Syntec Optics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Syntec Optics

Several hedge funds have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new position in shares of Syntec Optics in the 1st quarter valued at $89,000. Gables Capital Management Inc. acquired a new position in shares of Syntec Optics in the 1st quarter valued at $46,000. TRU Independence Asset Management 2 LLC acquired a new position in shares of Syntec Optics in the 1st quarter valued at $70,000. ARS Investment Partners LLC acquired a new position in shares of Syntec Optics in the 1st quarter valued at $396,000. Finally, Arosa Capital Management LP acquired a new position in shares of Syntec Optics in the 4th quarter valued at $715,000.

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.