LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Down 12.8% in June

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 59,200 shares, a decline of 12.8% from the May 31st total of 67,900 shares. Based on an average daily trading volume, of 57,300 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds have recently bought and sold shares of LPTH. Murphy Pohlad Asset Management LLC increased its holdings in LightPath Technologies by 240.7% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock valued at $58,000 after buying an additional 32,500 shares during the period. Archon Capital Management LLC increased its holdings 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 buying an additional 37,400 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in LightPath Technologies by 73.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock valued at $141,000 after buying an additional 47,429 shares during the period. Worth Venture Partners LLC increased its holdings in LightPath Technologies by 9.9% in the 3rd quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock valued at $1,348,000 after buying an additional 83,649 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 buying an additional 211,626 shares during the period. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH traded up $0.08 during mid-day trading on Tuesday, reaching $1.39. 56,567 shares of the company were exchanged, compared to its average volume of 57,013. The company’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.39. 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 has a twelve month low of $1.12 and a twelve month high of $2.00.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The company had revenue of $7.70 million for the quarter, compared to analyst estimates of $7.94 million. LightPath Technologies had a negative return on equity of 18.97% and a negative net margin of 19.72%. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, research analysts predict that LightPath Technologies will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LPTH shares. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of LightPath Technologies in a research note on Friday, May 10th. StockNews.com began coverage on shares of LightPath Technologies in a research report on Tuesday. They set a “hold” rating for the company.

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.