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

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

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

LightPath Technologies Price Performance

LPTH stock opened at $1.66 on Friday. The stock has a market capitalization of $65.85 million, a P/E ratio of -7.55 and a beta of 1.30. The firm has a 50-day simple moving average of $1.54 and a 200-day simple moving average of $1.38. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. LightPath Technologies has a 52 week low of $1.04 and a 52 week high of $1.74.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company 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 26.51% and a negative net margin of 25.86%. During the same period in the prior year, the firm earned ($0.02) EPS. Equities analysts forecast that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 buying an additional 211,626 shares during the period. AIGH Capital Management LLC grew 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 buying an additional 200,000 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of LightPath Technologies by 104.7% during the 2nd 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. Finally, Murphy Pohlad Asset Management LLC boosted its position 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 purchasing an additional 10,500 shares during the period. Hedge funds and other institutional investors own 56.29% of the company’s stock.

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.