Shares of Syntec Optics Holdings, Inc. (NASDAQ:OPTX – Get Free Report) fell 5.9% during trading on Monday . The company traded as low as $11.84 and last traded at $12.4660. 757,568 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,293,438 shares. The stock had previously closed at $13.25.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Syntec Optics from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Syntec Optics currently has a consensus rating of “Sell”.
Check Out Our Latest Research Report on OPTX
Syntec Optics Stock Up 13.1%
Syntec Optics (NASDAQ:OPTX – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.02) EPS for the quarter. The business had revenue of $6.51 million for the quarter. Syntec Optics had a negative return on equity of 30.86% and a negative net margin of 10.95%.
Hedge Funds Weigh In On Syntec Optics
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC lifted 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 buying an additional 1,891 shares during the period. Gables Capital Management Inc. bought a new position in shares of Syntec Optics during the 1st quarter worth approximately $46,000. State Street Corp lifted its position in shares of Syntec Optics by 20.6% during the 4th quarter. State Street Corp now owns 42,800 shares of the company’s stock worth $122,000 after buying an additional 7,300 shares during the period. TRU Independence Asset Management 2 LLC bought a new position in shares of Syntec Optics during the 1st quarter worth approximately $70,000. Finally, Magnus Financial Group LLC bought a new position in Syntec Optics during the 4th quarter valued at about $36,000.
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.
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