Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Sees Large Decrease in Short Interest

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Syntec Optics

Large investors have recently bought and sold shares of the business. Magnus Financial Group LLC purchased a new position in Syntec Optics during the 4th quarter valued at $36,000. Jane Street Group LLC boosted its holdings in Syntec Optics by 16.0% during the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after acquiring an additional 1,891 shares during the period. Gables Capital Management Inc. purchased a new position in Syntec Optics during the 1st quarter valued at $46,000. TRU Independence Asset Management 2 LLC purchased a new position in Syntec Optics during the 1st quarter valued at $70,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Syntec Optics in the 1st quarter worth $89,000.

Syntec Optics Trading Down 6.3%

OPTX traded down $0.48 during trading hours on Friday, reaching $7.16. 759,665 shares of the company’s stock traded hands, compared to its average volume of 1,127,231. The firm has a 50-day moving average price of $8.17 and a 200 day moving average price of $5.28. Syntec Optics has a 52-week low of $1.18 and a 52-week high of $12.20. The company has a quick ratio of 0.65, a current ratio of 1.35 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $264.85 million, a PE ratio of -89.50 and a beta of -0.93.

Syntec Optics (NASDAQ:OPTX) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter. Syntec Optics had a negative net margin of 6.38% and a negative return on equity of 17.19%. The business had revenue of $6.51 million for the quarter.

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.