Syntec Optics (NASDAQ:OPTX) Releases Earnings Results

Syntec Optics (NASDAQ:OPTX) announced its earnings results on Monday. The company reported $0.01 EPS for the quarter, FiscalAI reports. Syntec Optics had a negative net margin of 10.95% and a negative return on equity of 30.86%. The business had revenue of $8.27 million during the quarter.

Syntec Optics Price Performance

Syntec Optics stock traded down $0.21 during trading hours on Monday, reaching $7.58. 213,273 shares of the stock were exchanged, compared to its average volume of 1,132,731. The stock has a 50 day moving average of $9.82 and a two-hundred day moving average of $8.48. The company has a market cap of $305.32 million, a P/E ratio of -94.75 and a beta of -0.80. 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 twelve month low of $1.18 and a twelve month high of $14.92.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OPTX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a report on Thursday, July 2nd. Wall Street Zen downgraded shares of Syntec Optics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Syntec Optics

Large investors have recently modified their holdings of the business. Tema ETFs LLC acquired a new position in Syntec Optics during the second quarter worth about $7,662,000. Arosa Capital Management LP bought a new position in Syntec Optics in the 4th quarter valued at approximately $715,000. Royal Bank of Canada acquired a new stake in Syntec Optics in the first quarter valued at approximately $516,000. ARS Investment Partners LLC acquired a new position in shares of Syntec Optics during the first quarter worth $396,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Syntec Optics in the 1st quarter valued at $89,000.

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.