Syntec Optics (NASDAQ:OPTX) Releases Quarterly Earnings Results

Syntec Optics (NASDAQ:OPTX) announced its quarterly earnings results on Monday. The company reported $0.01 EPS for the quarter, FiscalAI reports. The company had revenue of $8.27 million for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 25.81%.

Syntec Optics Price Performance

NASDAQ OPTX traded down $0.25 during trading on Wednesday, reaching $8.62. The company’s stock had a trading volume of 80,406 shares, compared to its average volume of 1,121,898. The stock has a market capitalization of $347.29 million, a PE ratio of -143.08 and a beta of -0.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.59. The firm has a fifty day moving average of $9.66 and a 200 day moving average of $8.54. Syntec Optics has a one year low of $1.18 and a one year high of $14.92.

Wall Street Analysts Forecast Growth

OPTX has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a report on Thursday, July 2nd. Wall Street Zen lowered Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OPTX. Jane Street Group LLC raised its stake in 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 in the last quarter. State Street Corp grew its stake in Syntec Optics by 20.6% in 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 in the last quarter. Arosa Capital Management LP purchased a new position in Syntec Optics in the 4th quarter worth approximately $715,000. ARS Investment Partners LLC bought a new position in shares of Syntec Optics in the 1st quarter worth $396,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in shares of Syntec Optics in the 1st quarter worth $70,000.

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.