Syntec Optics (NASDAQ:OPTX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Syntec Optics (NASDAQ:OPTX) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Syntec Optics currently has an average rating of “Sell”.

Syntec Optics Trading Up 0.7%

NASDAQ:OPTX opened at $8.81 on Friday. The company has a market capitalization of $354.87 million, a P/E ratio of -146.83 and a beta of -0.80. The company has a current ratio of 5.97, a quick ratio of 0.59 and a debt-to-equity ratio of 0.11. Syntec Optics has a 12 month low of $1.18 and a 12 month high of $14.92. The firm has a fifty day simple moving average of $9.45 and a 200-day simple moving average of $8.59.

Syntec Optics (NASDAQ:OPTX) last issued its earnings results on Monday, August 10th. The company reported $0.01 earnings per share (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 during the quarter.

Institutional Investors Weigh In On Syntec Optics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Syntec Optics by 16.0% in the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after buying an additional 1,891 shares during the period. State Street Corp lifted its holdings in Syntec Optics by 20.6% in the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after acquiring an additional 7,300 shares during the period. Arosa Capital Management LP acquired a new position in Syntec Optics in the fourth quarter valued at approximately $715,000. ARS Investment Partners LLC purchased a new stake in Syntec Optics in the 1st quarter worth approximately $396,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in Syntec Optics in the 1st quarter worth approximately $70,000.

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.