Albert Manzone Buys 3,681 Shares of Syntec Optics (NASDAQ:OPTX) Stock

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Director Albert Manzone purchased 3,681 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $29,889.72. Following the purchase, the director directly owned 33,681 shares in the company, valued at approximately $273,489.72. The trade was a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Syntec Optics Trading Up 2.6%

Shares of OPTX stock opened at $8.73 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.97 and a quick ratio of 4.45. The company has a market cap of $351.64 million, a price-to-earnings ratio of -145.50 and a beta of -0.80. Syntec Optics Holdings, Inc. has a 1 year low of $1.18 and a 1 year high of $14.92. The firm has a fifty day moving average price of $8.73 and a 200-day moving average price of $8.70.

Syntec Optics (NASDAQ:OPTX) last announced its 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 company had revenue of $8.27 million for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Syntec Optics in a research note on Thursday, July 2nd. Wall Street Zen raised shares of Syntec Optics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Syntec Optics presently has a consensus rating of “Sell”.

Institutional Trading of Syntec Optics

Several institutional investors have recently made changes to their positions in the business. Tema ETFs LLC bought a new stake in Syntec Optics during the 2nd quarter valued at approximately $7,662,000. Arosa Capital Management LP bought a new position in Syntec Optics in the 4th quarter worth approximately $715,000. Royal Bank of Canada bought a new position in Syntec Optics in the 1st quarter worth approximately $516,000. ARS Investment Partners LLC purchased a new stake in Syntec Optics during the 1st quarter valued at approximately $396,000. Finally, State Street Corp raised its position in shares of Syntec Optics by 20.6% during the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after buying an additional 7,300 shares during the last quarter.

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.