Key Points
- Director Albert Manzone bought 3,681 Syntec Optics shares at an average price of $8.12, investing $29,889.72 and increasing his ownership by 12.27% to 33,681 shares.
- Syntec Optics reported quarterly revenue of $8.27 million and EPS of $0.01, but continued to post a negative net margin and return on equity.
- The stock opened at $8.51, while analysts maintained a generally negative outlook, with the company carrying a consensus “Sell” rating despite some institutional buying.
Syntec Optics Holdings, Inc. (NASDAQ:OPTX - Get Free Report) Director Albert Manzone purchased 3,681 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $8.12 per share, with a total value of $29,889.72. Following the completion of the transaction, the director owned 33,681 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link.
Syntec Optics Stock Up 8.5%
Syntec Optics stock opened at $8.51 on Thursday. Syntec Optics Holdings, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $14.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.45 and a current ratio of 5.97. The firm has a 50 day moving average price of $8.80 and a 200 day moving average price of $8.70. The company has a market capitalization of $342.78 million, a PE ratio of -141.83 and a beta of -0.80.
Syntec Optics (NASDAQ:OPTX - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter. Syntec Optics had a negative return on equity of 16.50% and a negative net margin of 8.26%.The firm had revenue of $8.27 million for the quarter.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Wall Street Zen raised Syntec Optics from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "sell (e+)" rating on shares of Syntec Optics in a research report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".
Get Our Latest Research Report on Syntec Optics
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of OPTX. Jane Street Group LLC raised its holdings in shares of Syntec Optics by 16.0% in the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company's stock valued at $39,000 after buying an additional 1,891 shares during the last quarter. State Street Corp raised its stake in Syntec Optics by 20.6% during the 4th quarter. State Street Corp now owns 42,800 shares of the company's stock valued at $122,000 after acquiring an additional 7,300 shares during the last quarter. Arosa Capital Management LP acquired a new stake in Syntec Optics during the 4th quarter worth approximately $715,000. ARS Investment Partners LLC purchased a new position in shares of Syntec Optics in the 1st quarter valued at approximately $396,000. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Syntec Optics in the 1st quarter valued at approximately $70,000.
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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