Royal Bank of Canada Makes New Investment in Syntec Optics Holdings, Inc. $OPTX

Royal Bank of Canada purchased a new position in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 73,348 shares of the company’s stock, valued at approximately $516,000.

A number of other hedge funds also recently made changes to their positions in OPTX. Jane Street Group LLC lifted its holdings 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 worth $39,000 after acquiring an additional 1,891 shares during the last quarter. Gables Capital Management Inc. bought a new position in Syntec Optics in the first quarter valued at $46,000. TRU Independence Asset Management 2 LLC purchased a new stake in Syntec Optics during the first quarter valued at about $70,000. OMERS ADMINISTRATION Corp purchased a new stake in Syntec Optics during the first quarter valued at about $89,000. Finally, State Street Corp lifted its stake 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 purchasing an additional 7,300 shares during the last quarter.

Syntec Optics Price Performance

Shares of Syntec Optics stock opened at $7.84 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. Syntec Optics Holdings, Inc. has a one year low of $1.18 and a one year high of $14.92. The business’s 50 day simple moving average is $8.88 and its two-hundred day simple moving average is $8.71. The stock has a market capitalization of $315.80 million, a P/E ratio of -130.67 and a beta of -0.80.

Syntec Optics (NASDAQ:OPTX) last released its quarterly earnings results on Monday, August 10th. The company reported $0.01 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

OPTX has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Syntec Optics in a research report on Thursday, July 2nd. Wall Street Zen upgraded Syntec Optics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Syntec Optics presently has an average 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.