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 were traded 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.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Syntec Optics from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Syntec Optics Stock Up 15.6%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.28. The firm has a market cap of $529.88 million, a PE ratio of -161.94 and a beta of -0.82. The company’s 50-day simple moving average is $9.90 and its two-hundred day simple moving average is $6.73.

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

Institutional Investors Weigh In On Syntec Optics

Several hedge funds have recently made changes to their positions in OPTX. Arosa Capital Management LP bought a new position in shares of Syntec Optics in the 4th quarter worth about $715,000. Royal Bank of Canada bought a new position in shares of Syntec Optics during the first quarter valued at approximately $516,000. ARS Investment Partners LLC purchased a new position in shares of Syntec Optics during the first quarter valued at approximately $396,000. State Street Corp boosted its position in shares of Syntec Optics by 20.6% in the 4th quarter. State Street Corp now owns 42,800 shares of the company’s stock worth $122,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Syntec Optics by 16.0% in the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock worth $39,000 after purchasing an additional 1,891 shares in the last 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.