Short Interest in Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Grows By 127.0%

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) saw a large increase in short interest in 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. Approximately 3.8% of the company’s stock are sold short. Based on an average daily volume of 1,787,015 shares, the short-interest ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Syntec Optics Stock Performance

OPTX stock opened at $13.25 on Friday. The stock’s 50 day simple moving average is $9.77 and its 200 day simple moving average is $6.55. The company has a current ratio of 1.28, a quick ratio of 0.59 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 stock has a market capitalization 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) EPS for the quarter. The business had revenue of $6.51 million during the quarter. Syntec Optics had a negative return on equity of 30.86% and a negative net margin of 10.95%.

Hedge Funds Weigh In On Syntec Optics

A number of hedge funds have recently bought and sold shares of OPTX. Arosa Capital Management LP bought a new position in Syntec Optics during the 4th quarter valued at about $715,000. Royal Bank of Canada bought a new stake in shares of Syntec Optics in the first quarter worth approximately $516,000. ARS Investment Partners LLC purchased a new position in shares of Syntec Optics during the first quarter valued at approximately $396,000. State Street Corp raised its holdings 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 purchasing an additional 7,300 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Syntec Optics by 16.0% during the fourth quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock valued at $39,000 after purchasing an additional 1,891 shares during the period.

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.