Insider Buying: Syntec Optics (NASDAQ:OPTX) Director Acquires $29,889.72 in Stock

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Director Albert Manzone acquired 3,681 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $8.12 per share, for a total transaction of $29,889.72. Following the acquisition, the director directly owned 33,681 shares in the company, valued at $273,489.72. This represents a 12.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Syntec Optics Price Performance

OPTX stock traded up $0.46 during mid-day trading on Wednesday, reaching $8.30. 145,194 shares of the company traded hands, compared to its average volume of 1,068,100. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. The company has a market capitalization of $334.20 million, a P/E ratio of -139.10 and a beta of -0.80. Syntec Optics Holdings, Inc. has a 52-week low of $1.18 and a 52-week high of $14.92. The company has a fifty day moving average price of $8.88 and a 200-day moving average price of $8.71.

Syntec Optics (NASDAQ:OPTX) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%. The firm had revenue of $8.27 million for the quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Syntec Optics in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Syntec Optics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Syntec Optics

A number of hedge funds have recently made changes to their positions in the stock. Tema ETFs LLC bought a new position in Syntec Optics in the second quarter valued at $7,662,000. ARS Investment Partners LLC purchased a new position in shares of Syntec Optics in the 1st quarter worth about $396,000. Royal Bank of Canada bought a new position in shares of Syntec Optics during the 1st quarter valued at about $516,000. Arosa Capital Management LP bought a new position in shares of Syntec Optics during the 4th quarter valued at about $715,000. Finally, State Street Corp raised its holdings 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 valued at $122,000 after buying an additional 7,300 shares in the last quarter.

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.