LightPath Technologies (NASDAQ:LPTH) Earns Hold Rating from Analysts at StockNews.com

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

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

LightPath Technologies Price Performance

LightPath Technologies stock opened at $1.57 on Wednesday. The company’s fifty day moving average price is $1.41 and its 200 day moving average price is $1.36. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.74. The stock has a market capitalization of $62.19 million, a P/E ratio of -7.14 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.93.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data 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 firm had revenue of $8.63 million during the quarter, compared to analysts’ expectations of $8.25 million. LightPath Technologies had a negative net margin of 25.24% and a negative return on equity of 24.55%. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, equities research analysts anticipate that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Murphy Pohlad Asset Management LLC increased 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 last quarter. B. Riley Wealth Advisors Inc. increased 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 last quarter. Vanguard Group Inc. grew its position in 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 acquiring an additional 211,626 shares in the last quarter. Archon Capital Management LLC grew its position in LightPath Technologies by 1.8% in 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 acquiring an additional 37,400 shares in the last quarter. Finally, AIGH Capital Management LLC grew its position in 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 acquiring an additional 200,000 shares in the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

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.