LightPath Technologies (NASDAQ:LPTH) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report released on Tuesday morning. The brokerage issued a hold rating on the technology company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of LightPath Technologies in a research report on Friday, September 20th.

LightPath Technologies Price Performance

LPTH stock opened at $2.52 on Tuesday. The company has a market capitalization of $99.96 million, a P/E ratio of -11.45 and a beta of 1.32. LightPath Technologies has a twelve month low of $1.04 and a twelve month high of $2.54. The business has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $1.44. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). LightPath Technologies had a negative return on equity of 26.51% and a negative net margin of 25.86%. The company had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.25 million. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities analysts anticipate that LightPath Technologies will post -0.14 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC lifted its stake in shares of LightPath Technologies by 22.3% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after purchasing an additional 12,600 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of LightPath Technologies by 104.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after purchasing an additional 67,429 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of LightPath Technologies by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after purchasing an additional 211,626 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its stake 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 valued at $4,692,000 after purchasing an additional 200,000 shares in the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

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.