Syntec Optics (NASDAQ:OPTX) Stock Price Up 19.8% – Here’s What Happened

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) shares rose 19.8% during trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

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

Syntec Optics Trading Up 19.3%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.59. The firm has a market capitalization of $508.33 million, a P/E ratio of -158.01 and a beta of -0.82. The stock’s 50-day simple moving average is $10.14 and its two-hundred day simple moving average is $7.35.

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

Institutional Trading of Syntec Optics

Several hedge funds have recently modified their holdings of the company. Arosa Capital Management LP bought a new position in Syntec Optics during the fourth quarter valued at $715,000. Royal Bank of Canada purchased a new position in Syntec Optics in the 1st quarter worth about $516,000. ARS Investment Partners LLC purchased a new stake in shares of Syntec Optics in the 1st quarter worth $396,000. State Street Corp boosted 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 valued at $122,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Syntec Optics by 16.0% in the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after purchasing an additional 1,891 shares during the last quarter.

Syntec Optics Company Profile

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.