LightPath Technologies (NASDAQ:LPTH) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Monday 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 Stock Performance

Shares of LPTH stock opened at $1.56 on Monday. The stock’s fifty day simple moving average is $1.33 and its 200-day simple moving average is $1.35. The company has a market capitalization of $60.54 million, a price-to-earnings ratio of -8.67 and a beta of 1.31. The company has a current ratio of 1.93, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $1.77.

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 25.24% and a negative return on equity of 24.55%. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts predict that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of LightPath Technologies by 15.6% in 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. B. Riley Wealth Advisors Inc. boosted its stake in LightPath Technologies by 73.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock valued at $141,000 after purchasing an additional 47,429 shares during the period. AIGH Capital Management LLC grew its holdings 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 buying an additional 200,000 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its position in LightPath Technologies by 22.8% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock worth $71,000 after buying an additional 10,500 shares during the period. Finally, Archon Capital Management LLC grew its stake in shares of LightPath Technologies by 1.8% in the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after acquiring an additional 37,400 shares during 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.