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

StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note released on Friday morning. The firm issued a hold rating on the technology company’s stock.

LightPath Technologies Stock Performance

Shares of LPTH opened at $1.26 on Friday. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.77. The company’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.35. The company has a market capitalization of $48.90 million, a price-to-earnings ratio of -7.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.13 and a current ratio of 2.01.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.25 million. LightPath Technologies had a negative return on equity of 18.97% and a negative net margin of 19.72%. During the same period in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts predict that LightPath Technologies will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LPTH. B. Riley Wealth Advisors Inc. increased its position in LightPath Technologies by 104.7% during 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 last quarter. AIGH Capital Management LLC grew its stake in shares of LightPath Technologies by 5.7% during 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 buying an additional 200,000 shares during the period. Murphy Pohlad Asset Management LLC increased 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 buying an additional 10,500 shares during the last quarter. Archon Capital Management LLC increased 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 worth $2,874,000 after buying an additional 37,400 shares during the last quarter. Finally, Vanguard Group Inc. raised its position 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 worth $2,169,000 after buying an additional 211,626 shares during the period. 56.29% of the stock is currently owned by hedge funds and other 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.