Syntec Optics (NASDAQ:OPTX) Trading Up 10.9% – Should You Buy?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX)’s stock price was up 10.9% during trading on Wednesday . The company traded as high as $12.69 and last traded at $12.6230. Approximately 584,504 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 1,310,123 shares. The stock had previously closed at $11.38.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Syntec Optics from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Syntec Optics Trading Down 5.9%

The stock has a market cap of $487.79 million, a price-to-earnings ratio of -151.38 and a beta of -0.82. The business’s fifty day simple moving average is $10.04 and its 200 day simple moving average is $6.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.59.

Syntec Optics (NASDAQ:OPTX) last released its 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 10.95% and a negative return on equity of 30.86%. The business had revenue of $6.51 million for the quarter.

Institutional Investors Weigh In On Syntec Optics

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in Syntec Optics by 16.0% in the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock worth $39,000 after acquiring an additional 1,891 shares during the last quarter. Gables Capital Management Inc. bought a new position in shares of Syntec Optics during the first quarter valued at approximately $46,000. State Street Corp grew its holdings in shares of Syntec Optics by 20.6% during the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after purchasing an additional 7,300 shares during the last quarter. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Syntec Optics during the 1st quarter worth approximately $70,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of Syntec Optics during the 4th quarter worth approximately $36,000.

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.