Syntec Optics (NASDAQ:OPTX) Stock Price Up 19.8% – Should You Buy?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) was up 19.8% during mid-day trading on Tuesday . The stock traded as high as $12.49 and last traded at $12.6770. 911,680 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 1,278,843 shares. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Syntec Optics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Syntec Optics has an average rating of “Sell”.

Syntec Optics Price Performance

The stock’s 50 day moving average is $10.14 and its two-hundred day moving average is $7.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.28. The stock has a market capitalization of $508.33 million, a PE ratio of -158.01 and a beta of -0.82.

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

Institutional Investors Weigh In On Syntec Optics

A number of hedge funds have recently modified their holdings of the business. Magnus Financial Group LLC purchased a new position in shares of Syntec Optics in the fourth quarter worth about $36,000. Jane Street Group LLC raised its holdings in Syntec Optics by 16.0% in the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after acquiring an additional 1,891 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in Syntec Optics in the 1st quarter valued at about $46,000. TRU Independence Asset Management 2 LLC purchased a new position in Syntec Optics in the 1st quarter worth approximately $70,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Syntec Optics in the 1st quarter worth approximately $89,000.

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.