Syntec Optics (NASDAQ:OPTX) Trading 19.8% Higher – Time to Buy?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX)’s share price was up 19.8% during trading on Tuesday . The company traded as high as $12.49 and last traded at $12.6770. Approximately 911,680 shares were traded during mid-day trading, a decline of 29% from the average session volume of 1,278,843 shares. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

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

Syntec Optics Stock Performance

The firm has a 50 day moving average of $10.25 and a 200-day moving average of $7.50. The company has a market cap of $438.25 million, a P/E ratio of -133.93 and a beta of -0.86. The company has a quick ratio of 0.59, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

Syntec Optics (NASDAQ:OPTX) last issued 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 firm had revenue of $6.51 million for the quarter.

Institutional Investors Weigh In On Syntec Optics

A number of hedge funds have recently made changes to their positions in OPTX. Magnus Financial Group LLC acquired a new position in shares of Syntec Optics during the fourth quarter worth $36,000. Jane Street Group LLC grew its stake in shares of 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 acquiring an additional 1,891 shares during the last quarter. State Street Corp grew its stake 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 worth $122,000 after acquiring an additional 7,300 shares during the last quarter. Arosa Capital Management LP acquired a new position in shares of Syntec Optics during the fourth quarter valued at about $715,000. Finally, ARS Investment Partners LLC acquired a new position in shares of Syntec Optics during the first quarter valued at about $396,000.

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.