Syntec Optics (NASDAQ:OPTX) Stock Price Down 5.9% – What’s Next?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) shares traded down 5.9% during mid-day trading on Monday . The stock traded as low as $11.84 and last traded at $12.4660. 757,568 shares changed hands during trading, a decline of 41% from the average session volume of 1,293,438 shares. The stock had previously closed at $13.25.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Syntec Optics from a “hold” rating to a “sell” rating in a report on Saturday. One research 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 Price Performance

The firm has a 50 day moving average of $9.77 and a two-hundred day moving average of $6.59. The company has a market cap of $491.05 million, a PE ratio of -152.39 and a beta of -0.82. The company has a current ratio of 1.28, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Arosa Capital Management LP bought a new position in shares of Syntec Optics during the fourth quarter valued at $715,000. Royal Bank of Canada purchased a new position in Syntec Optics in the 1st quarter worth about $516,000. ARS Investment Partners LLC purchased a new position in Syntec Optics in the 1st quarter worth about $396,000. OMERS ADMINISTRATION Corp bought a new position in Syntec Optics during the 1st quarter valued at about $89,000. Finally, Magnus Financial Group LLC bought a new position in Syntec Optics during the 4th quarter valued at about $36,000.

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.