Wall Street Zen Upgrades Syntec Optics (NASDAQ:OPTX) to “Hold”

Syntec Optics (NASDAQ:OPTX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Syntec Optics in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Syntec Optics Price Performance

Shares of NASDAQ OPTX opened at $8.81 on Friday. The company has a market capitalization of $354.87 million, a P/E ratio of -146.83 and a beta of -0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. The company has a 50 day simple moving average of $9.45 and a 200-day simple moving average of $8.62. Syntec Optics has a 1 year low of $1.18 and a 1 year high of $14.92.

Syntec Optics (NASDAQ:OPTX) last released its quarterly earnings data on Monday, August 10th. The company reported $0.01 EPS for the quarter. The firm had revenue of $8.27 million for the quarter. Syntec Optics had a negative return on equity of 16.50% and a negative net margin of 8.26%.

Hedge Funds Weigh In On Syntec Optics

Several large investors have recently made changes to their positions in OPTX. Jane Street Group LLC boosted its position in shares of Syntec Optics by 16.0% during 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 period. State Street Corp raised its position in Syntec Optics by 20.6% in 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 during the period. Arosa Capital Management LP acquired a new position in Syntec Optics during the fourth quarter worth $715,000. ARS Investment Partners LLC acquired a new position in Syntec Optics during the first quarter worth $396,000. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Syntec Optics during the first quarter worth $70,000.

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.