Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Sees Significant Drop in Short Interest

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 744,442 shares, a decline of 53.3% from the April 15th total of 1,594,817 shares. Based on an average trading volume of 1,209,866 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.0% of the company’s shares are sold short.

Syntec Optics Trading Down 6.3%

Shares of NASDAQ OPTX traded down $0.48 during trading hours on Friday, reaching $7.16. The stock had a trading volume of 759,665 shares, compared to its average volume of 1,273,679. The company has a current ratio of 1.35, a quick ratio of 0.65 and a debt-to-equity ratio of 0.37. The firm has a market cap of $264.88 million, a price-to-earnings ratio of -143.20 and a beta of -0.93. The business’s fifty day moving average price is $8.17 and its two-hundred day moving average price is $5.28. Syntec Optics has a 52-week low of $1.18 and a 52-week high of $12.20.

Syntec Optics (NASDAQ:OPTX) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $6.51 million during the quarter. Syntec Optics had a negative net margin of 6.38% and a negative return on equity of 17.19%.

Institutional Trading of Syntec Optics

Large investors have recently modified their holdings of the company. Arosa Capital Management LP purchased a new stake in shares of Syntec Optics in the fourth quarter valued at approximately $715,000. State Street Corp boosted its holdings in shares of Syntec Optics by 20.6% in the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after purchasing an additional 7,300 shares during the period. Jane Street Group LLC boosted 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 purchasing an additional 1,891 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Syntec Optics in the first quarter valued at approximately $89,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Syntec Optics in the first quarter valued at approximately $46,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Syntec Optics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Syntec Optics Company Profile

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.