Syntec Optics (NASDAQ:OPTX) Issues Earnings Results

Syntec Optics (NASDAQ:OPTX) released its quarterly earnings results on Friday. The company reported $0.01 earnings per share for the quarter, FiscalAI reports. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%. The business had revenue of $8.54 million during the quarter.

Syntec Optics Stock Up 4.1%

OPTX traded up $0.28 during trading on Friday, hitting $7.08. The company had a trading volume of 1,004,112 shares, compared to its average volume of 921,935. The company has a market cap of $285.18 million, a PE ratio of -118.00 and a beta of -0.71. The business has a 50-day moving average of $7.05 and a 200-day moving average of $8.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. Syntec Optics has a 1-year low of $1.18 and a 1-year high of $14.92.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Syntec Optics in a research note on Tuesday, September 29th. Wall Street Zen upgraded Syntec Optics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Syntec Optics has an average rating of “Sell”.

Insider Buying and Selling

In related news, Director Albert Manzone acquired 3,681 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $8.12 per share, with a total value of $29,889.72. Following the acquisition, the director directly owned 33,681 shares in the company, valued at approximately $273,489.72. The trade was a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OPTX. Balance Wealth Partners LLC bought a new stake in shares of Syntec Optics in the 3rd quarter valued at approximately $27,000. State of Alaska Department of Revenue acquired a new position in Syntec Optics in the third quarter worth $28,000. OMERS ADMINISTRATION Corp bought a new stake in Syntec Optics during the first quarter valued at $89,000. Engineers Gate Manager LP increased its stake in Syntec Optics by 125.8% during the second quarter. Engineers Gate Manager LP now owns 31,490 shares of the company’s stock valued at $392,000 after purchasing an additional 17,547 shares during the last quarter. Finally, Royal Bank of Canada bought a new stake in Syntec Optics during the first quarter valued at $516,000.

About Syntec Optics

Syntec Optics designs and manufactures precision optical components, assemblies and systems. Its products include lenses, mirrors, prisms, optical coatings and molded optics, as well as custom optical subassemblies for specialized applications. The company serves customers in markets including defense and security, biomedical technology, communications and consumer products. Its capabilities support applications such as imaging, laser systems and optical communications. Based in Rochester, New York, Syntec Optics traces its operating history to 1981.