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

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

Separately, HC Wainwright restated 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 Stock Performance

Shares of LPTH stock opened at $1.86 on Friday. 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 stock has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.38. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $2.04.

LightPath Technologies (NASDAQ:LPTH) last issued its 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 during the quarter, compared to analyst estimates of $8.25 million. LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, equities analysts predict that LightPath Technologies will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in LightPath Technologies by 15.6% during the 1st 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. AIGH Capital Management LLC boosted its position in shares of LightPath Technologies by 5.7% during the second 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. B. Riley Wealth Advisors Inc. grew its holdings in shares of 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 buying an additional 67,429 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its stake in 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 acquiring an additional 12,600 shares in the last quarter. 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.