Albert Manzone Acquires 5,000 Shares of Syntec Optics (NASDAQ:OPTX) Stock

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Director Albert Manzone bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director owned 30,000 shares of the company’s stock, valued at $300,000. This represents a 20.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Albert Manzone also recently made the following trade(s):

• On Wednesday, August 19th, Albert Manzone purchased 3,681 shares of Syntec Optics stock. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $29,889.72.

Syntec Optics Stock Up 5.8%

Shares of Syntec Optics stock traded up $0.46 during trading hours on Wednesday, reaching $8.30. The company’s stock had a trading volume of 145,194 shares, compared to its average volume of 1,068,100. Syntec Optics Holdings, Inc. has a one year low of $1.18 and a one year high of $14.92. The company has a market capitalization of $334.20 million, a P/E ratio of -139.10 and a beta of -0.80. The stock’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $8.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.45 and a current ratio of 5.97.

Syntec Optics (NASDAQ:OPTX) last posted its earnings results on Monday, August 10th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $8.27 million for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%.

Institutional Trading of Syntec Optics

A number of institutional investors have recently modified their holdings of the business. Gables Capital Management Inc. bought a new position in shares of Syntec Optics in the first quarter worth $46,000. TRU Independence Asset Management 2 LLC purchased a new stake in Syntec Optics during the 1st quarter worth about $70,000. OMERS ADMINISTRATION Corp bought a new position in Syntec Optics in the 1st quarter worth about $89,000. Jane Street Group LLC grew its holdings in Syntec Optics by 16.0% during 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 in the last quarter. Finally, State Street Corp increased 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 period.

Analysts Set New Price Targets

OPTX has been the topic of several recent analyst reports. Wall Street Zen raised shares of Syntec Optics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Syntec Optics in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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.