Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Sees Significant Decline in Short Interest

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 1,118,431 shares, a drop of 24.1% from the January 29th total of 1,473,434 shares. Based on an average daily trading volume, of 1,184,706 shares, the short-interest ratio is currently 0.9 days. Approximately 3.1% of the shares of the company are short sold. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,184,706 shares, the short-interest ratio is currently 0.9 days.

Syntec Optics Price Performance

NASDAQ OPTX traded down $0.62 on Wednesday, hitting $6.98. 398,333 shares of the company were exchanged, compared to its average volume of 1,564,993. Syntec Optics has a 1-year low of $1.02 and a 1-year high of $9.15. The firm has a 50 day moving average of $5.24 and a two-hundred day moving average of $3.03. The company has a current ratio of 1.22, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The company has a market cap of $257.70 million, a P/E ratio of -87.25 and a beta of -1.06.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OPTX. Weiss Ratings reiterated a “sell (d)” rating on shares of Syntec Optics in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Syntec Optics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Syntec Optics has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Magnus Financial Group LLC bought a new stake in Syntec Optics during the 4th quarter worth about $36,000. Jane Street Group LLC grew its position in shares of Syntec Optics by 16.0% during the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the company’s stock worth $39,000 after buying an additional 1,891 shares during the period. State Street Corp raised its stake 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 worth $122,000 after buying an additional 7,300 shares during the last quarter. Finally, Arosa Capital Management LP acquired a new position in Syntec Optics in the fourth quarter valued at approximately $715,000.

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.