Short Interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Rises By 127.0%

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,536,373 shares, a growth of 127.0% from the May 14th total of 676,925 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,787,015 shares, the days-to-cover ratio is presently 0.9 days.

Syntec Optics Stock Down 6.1%

OPTX stock opened at $13.25 on Friday. The business’s 50-day moving average price is $9.77 and its 200-day moving average price is $6.55. The stock has a market cap of $533.71 million, a P/E ratio of -165.63 and a beta of -0.82. The company has a quick ratio of 0.59, a current ratio of 1.28 and a debt-to-equity ratio of 0.41. Syntec Optics has a twelve month low of $1.18 and a twelve month high of $14.92.

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

Institutional Trading of Syntec Optics

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its position in shares of Syntec Optics by 16.0% during the 4th 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 during the period. Gables Capital Management Inc. bought a new position in Syntec Optics in the 1st quarter worth $46,000. State Street Corp increased 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. TRU Independence Asset Management 2 LLC purchased a new stake in Syntec Optics in the 1st quarter worth $70,000. Finally, Magnus Financial Group LLC bought a new stake in Syntec Optics during the fourth quarter valued at about $36,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.