Tidal Investments LLC Acquires New Holdings in Syntec Optics Holdings, Inc. $OPTX

Tidal Investments LLC bought a new position in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 613,879 shares of the company’s stock, valued at approximately $7,643,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 worth $39,000 after acquiring an additional 1,891 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Syntec Optics in the 1st quarter valued at $46,000. TRU Independence Asset Management 2 LLC acquired a new position in Syntec Optics in the first quarter worth about $70,000. OMERS ADMINISTRATION Corp bought a new position in shares of Syntec Optics during the 1st quarter worth approximately $89,000. Finally, State Street Corp grew its position in 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 acquiring an additional 7,300 shares during the period.

Insider Buying and Selling at Syntec Optics

In related news, Director Albert Manzone bought 3,681 shares of Syntec Optics stock in a transaction dated 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 completion of the transaction, the director owned 33,681 shares of the company’s stock, valued at approximately $273,489.72. This trade represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Syntec Optics Stock Performance

Shares of NASDAQ:OPTX opened at $7.10 on Friday. Syntec Optics Holdings, Inc. has a twelve month low of $1.18 and a twelve month high of $14.92. The firm has a market cap of $285.99 million, a PE ratio of -118.33 and a beta of -0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.45 and a current ratio of 5.97. The business has a fifty day moving average of $7.96 and a 200-day moving average of $8.79.

Syntec Optics (NASDAQ:OPTX) last released 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 return on equity of 16.50% and a negative net margin of 8.26%.The business had revenue of $8.27 million during the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OPTX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a report 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Syntec Optics 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.