Syntec Optics (NASDAQ:OPTX) Trading Up 10.5% – Here’s Why
by Danessa Lincoln · The Markets DailySyntec Optics Holdings, Inc. (NASDAQ:OPTX – Get Free Report) shares shot up 10.5% during trading on Monday . The stock traded as high as $7.73 and last traded at $7.34. 714,809 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 566,473 shares. The stock had previously closed at $6.64.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on OPTX. Wall Street Zen raised shares of Syntec Optics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Weiss Ratings restated a “sell (d)” rating on shares of Syntec Optics in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Syntec Optics presently has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on OPTX
Syntec Optics Stock Up 9.3%
The company has a current ratio of 1.22, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $308.28 million, a P/E ratio of -104.38 and a beta of -1.06. The firm’s 50 day moving average price is $6.49 and its two-hundred day moving average price is $3.65.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in OPTX. Arosa Capital Management LP acquired a new stake in Syntec Optics in the 4th quarter valued at $715,000. State Street Corp boosted its stake 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 last quarter. Jane Street Group LLC boosted its stake 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 last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of Syntec Optics in 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.