Syntec Optics Wins Recurring Space Order for Satellite Waveguides
OPTX has more than doubled off its 52-week low of $1.18 on light trading volume (0.2× avg).
Summary
Syntec Optics announced a new recurring order to build specialized high-tech waveguides for space satellites, with production ramping to weekly shipments. The company states its space antenna portfolio can deliver over $1 million in annual revenue. This follows a series of space optics orders in recent months and comes after record Q2 revenue of $8.3 million and a recent auditor change. The order adds to a growing space business but is modest relative to the company's overall revenue.
At the time of this announcement, OPTX was trading at $8.21 on NASDAQ in the Technology sector, with a market capitalization of approximately $315.8M. The 52-week trading range was $1.18 to $14.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.