Syntec Optics (NASDAQ:OPTX) Trading Down 5.9% – Time to Sell?

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

Analyst Ratings Changes

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

Syntec Optics Stock Down 8.0%

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

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

Institutional Trading of Syntec Optics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its stake in shares of Syntec Optics by 16.0% in the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock worth $39,000 after buying an additional 1,891 shares during the period. Gables Capital Management Inc. bought a new position in shares of Syntec Optics during the 1st quarter valued at approximately $46,000. State Street Corp grew its stake in shares of Syntec Optics by 20.6% during the 4th 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. TRU Independence Asset Management 2 LLC purchased a new stake in Syntec Optics in the 1st quarter worth approximately $70,000. Finally, Magnus Financial Group LLC bought a new stake in Syntec Optics during the 4th quarter worth approximately $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.