LightPath Technologies (NASDAQ:LPTH) Now Covered by StockNews.com

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of LightPath Technologies in a research note on Friday, September 20th.

LightPath Technologies Trading Down 6.4 %

Shares of LPTH stock opened at $1.46 on Friday. The business has a 50-day moving average price of $1.46 and a two-hundred day moving average price of $1.37. LightPath Technologies has a 12-month low of $1.04 and a 12-month high of $1.74. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The firm has a market cap of $57.92 million, a P/E ratio of -6.64 and a beta of 1.30.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. The business had revenue of $8.63 million during the quarter, compared to analysts’ expectations of $8.25 million. During the same period last year, the company posted ($0.02) EPS. Equities analysts anticipate that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently bought and sold shares of LPTH. Murphy Pohlad Asset Management LLC grew its holdings in shares of LightPath Technologies by 22.8% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock worth $71,000 after acquiring an additional 10,500 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in LightPath Technologies by 104.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock worth $166,000 after purchasing an additional 67,429 shares during the period. Vanguard Group Inc. raised its holdings in LightPath Technologies by 15.6% in the first quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock worth $2,169,000 after purchasing an additional 211,626 shares in the last quarter. Archon Capital Management LLC boosted its holdings in shares of LightPath Technologies by 1.8% during the 1st quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock valued at $2,874,000 after buying an additional 37,400 shares in the last quarter. Finally, AIGH Capital Management LLC grew its position in shares of LightPath Technologies by 5.7% in the 2nd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock worth $4,692,000 after buying an additional 200,000 shares during the period. 56.29% of the stock is owned by institutional investors.

About LightPath Technologies

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.