Short Interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Increases By 127.0%

Syntec Optics Holdings, Inc. (NASDAQ:OPTX – Get Free Report) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 1,536,373 shares, a growth of 127.0% from the May 14th total of 676,925 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average trading volume of 1,787,015 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Syntec Optics presently has a consensus rating of “Sell”.

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Institutional Investors Weigh In On Syntec Optics

Hedge funds have recently made changes to their positions in the business. Arosa Capital Management LP bought a new stake in shares of Syntec Optics during the fourth quarter valued at approximately $715,000. State Street Corp raised its holdings 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 buying an additional 7,300 shares during the last quarter. Jane Street Group LLC raised its holdings in Syntec Optics by 16.0% during the fourth 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 in the last quarter. Royal Bank of Canada bought a new stake in Syntec Optics during the first quarter worth approximately $516,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Syntec Optics during the first quarter worth approximately $89,000.

Syntec Optics Stock Performance

NASDAQ OPTX traded down $0.86 during trading hours on Friday, reaching $13.25. The company’s stock had a trading volume of 1,015,845 shares, compared to its average volume of 1,337,309. The business has a 50-day simple moving average of $9.77 and a 200 day simple moving average of $6.59. The stock has a market cap of $533.71 million, a PE ratio of -165.63 and a beta of -0.82. The company has a current ratio of 1.28, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. Syntec Optics has a 52 week low of $1.18 and a 52 week high of $14.92.

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

About Syntec Optics

(Get Free Report)

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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