Syntec Optics (NASDAQ:OPTX) Stock Price Down 1.3% – Here’s Why

Syntec Optics Holdings, Inc. (NASDAQ:OPTX)’s share price fell 1.3% on Wednesday . The stock traded as low as $8.20 and last traded at $8.31. 208,364 shares changed hands during trading, a decline of 63% from the average daily volume of 569,615 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Syntec Optics in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Syntec Optics Trading Down 6.6%

The company’s 50-day moving average is $10.41 and its 200-day moving average is $8.23. The firm has a market cap of $283.97 million, a price-to-earnings ratio of -88.12 and a beta of -0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.28.

Syntec Optics (NASDAQ:OPTX) last posted its quarterly earnings data 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 company had revenue of $6.51 million during the quarter.

Institutional Trading of Syntec Optics

A number of hedge funds and other institutional investors have recently modified their holdings of OPTX. Jane Street Group LLC raised its position in 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 during the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Syntec Optics in the 1st quarter valued at $46,000. State Street Corp increased its stake 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 valued at $122,000 after buying an additional 7,300 shares during the period. TRU Independence Asset Management 2 LLC bought a new stake in shares of Syntec Optics during the first quarter worth $70,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Syntec Optics during the first quarter valued at $89,000.

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.