StockNews.com Initiates Coverage on LightPath Technologies (NASDAQ:LPTH)

Analysts at StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of LightPath Technologies in a research note on Friday, May 10th.

LightPath Technologies Stock Performance

Shares of LPTH stock opened at $1.31 on Tuesday. LightPath Technologies has a 52 week low of $1.12 and a 52 week high of $2.00. The firm has a market capitalization of $50.84 million, a price-to-earnings ratio of -7.28 and a beta of 1.30. The stock has a fifty day moving average of $1.32 and a 200 day moving average of $1.39. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 9th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). LightPath Technologies had a negative return on equity of 18.97% and a negative net margin of 19.72%. The company had revenue of $7.70 million during the quarter, compared to the consensus estimate of $7.94 million. During the same period last year, the firm posted ($0.03) earnings per share. As a group, research analysts expect that LightPath Technologies will post -0.2 earnings per share for the current year.

Institutional Trading of LightPath Technologies

A number of institutional investors have recently modified their holdings of LPTH. AMH Equity Ltd raised its holdings in shares of LightPath Technologies by 12.4% during the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock worth $3,552,000 after purchasing an additional 310,870 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LightPath Technologies by 15.6% during the first quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after acquiring an additional 211,626 shares during the last quarter. Worth Venture Partners LLC grew its position in LightPath Technologies by 9.9% in the 3rd quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock valued at $1,348,000 after acquiring an additional 83,649 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of LightPath Technologies in the third quarter valued at $93,000. Finally, Archon Capital Management LLC lifted its stake in LightPath Technologies by 1.8% in the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after acquiring an additional 37,400 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.