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

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

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

LightPath Technologies Price Performance

LPTH traded down $0.10 during trading on Friday, hitting $1.46. 197,110 shares of the company traded hands, compared to its average volume of 54,449. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $57.92 million, a PE ratio of -6.64 and a beta of 1.30. The stock’s 50-day simple moving average is $1.46 and its two-hundred day simple moving average is $1.37. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.74.

LightPath Technologies (NASDAQ:LPTH) last issued 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 for the quarter, compared to analysts’ expectations 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 previous year, the business earned ($0.02) EPS. As a group, sell-side analysts anticipate that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in LightPath Technologies by 15.6% during the first 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 during the period. Archon Capital Management LLC boosted its stake in LightPath Technologies by 1.8% during the first 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 period. Murphy Pohlad Asset Management LLC increased its position in LightPath Technologies by 22.8% during the second quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock valued at $71,000 after acquiring an additional 10,500 shares during the last quarter. AIGH Capital Management LLC raised its stake in shares of LightPath Technologies by 5.7% in the second 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 during the period. Finally, B. Riley Wealth Advisors Inc. lifted its holdings 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 worth $166,000 after acquiring an additional 67,429 shares during the last quarter. 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.