Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Sees Large Increase in Short Interest

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

Syntec Optics Price Performance

Shares of Syntec Optics stock opened at $13.25 on Monday. 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 12 month low of $1.18 and a 12 month high of $14.92. The business has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $6.59. The stock has a market cap of $533.71 million, a PE ratio of -165.63 and a beta of -0.82.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gables Capital Management Inc. bought a new position in Syntec Optics during the first quarter worth about $46,000. TRU Independence Asset Management 2 LLC bought a new position in Syntec Optics during the first quarter worth about $70,000. Magnus Financial Group LLC bought a new position in Syntec Optics during the fourth quarter worth about $36,000. OMERS ADMINISTRATION Corp bought a new position in Syntec Optics during the first quarter worth about $89,000. Finally, Jane Street Group LLC lifted its holdings in Syntec Optics by 16.0% during the fourth 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 in the last quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut 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 MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.