Syntec Optics (NASDAQ:OPTX) Sets New 52-Week High – What’s Next?

Syntec Optics Holdings, Inc. (NASDAQ:OPTX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $13.76 and last traded at $13.3060, with a volume of 221620 shares. The stock had previously closed at $11.91.

Syntec Optics Stock Down 10.0%

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 firm has a 50 day simple moving average of $9.31 and a 200-day simple moving average of $6.26. The stock has a market capitalization of $431.56 million, a price-to-earnings ratio of -134.40 and a beta of -0.82.

Syntec Optics (NASDAQ:OPTX) last released its quarterly earnings data 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 company had revenue of $6.51 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new position in Syntec Optics during the first quarter worth $516,000. OMERS ADMINISTRATION Corp acquired a new position in Syntec Optics during the first quarter worth $89,000. Gables Capital Management Inc. acquired a new position in Syntec Optics during the first quarter worth $46,000. TRU Independence Asset Management 2 LLC acquired a new position in Syntec Optics during the first quarter worth $70,000. Finally, ARS Investment Partners LLC bought a new position in shares of Syntec Optics in the first quarter valued at about $396,000.

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.