Syntec Optics (NASDAQ:OPTX) Announces Quarterly Earnings Results

Syntec Optics (NASDAQ:OPTX) released its earnings results on Monday. The company reported $0.01 earnings per share for the quarter, FiscalAI reports. Syntec Optics had a negative return on equity of 30.86% and a negative net margin of 10.95%.The business had revenue of $8.27 million for the quarter.

Syntec Optics Stock Down 2.7%

NASDAQ:OPTX opened at $7.58 on Tuesday. 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 company’s fifty day moving average price is $9.75 and its 200-day moving average price is $8.50. Syntec Optics has a 1-year low of $1.18 and a 1-year high of $14.92. The firm has a market capitalization of $305.32 million, a P/E ratio of -94.75 and a beta of -0.80.

Analyst Ratings Changes

OPTX has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Syntec Optics from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Syntec Optics in a report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Syntec Optics

Hedge funds have recently added to or reduced their stakes in the business. ARS Investment Partners LLC acquired a new position in shares of Syntec Optics in the 1st quarter valued at about $396,000. Arosa Capital Management LP acquired a new stake in Syntec Optics during the fourth quarter worth about $715,000. State Street Corp grew its holdings in Syntec Optics by 20.6% during the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock worth $122,000 after acquiring an additional 7,300 shares during the period. Jane Street Group LLC raised its position in Syntec Optics by 16.0% during the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Tema ETFs LLC purchased a new position in Syntec Optics during the second quarter valued at approximately $7,662,000.

Syntec Optics Company 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.