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

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

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

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH traded down $0.04 during midday trading on Thursday, reaching $1.54. The company’s stock had a trading volume of 16,566 shares, compared to its average volume of 54,321. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $1.74. The company has a market capitalization of $61.00 million, a P/E ratio of -7.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.12. The business’s fifty day simple moving average is $1.43 and its 200-day simple moving average is $1.36.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $8.63 million during the quarter, compared to the consensus estimate of $8.25 million. LightPath Technologies had a negative return on equity of 24.55% and a negative net margin of 25.24%. During the same quarter last year, the firm earned ($0.02) EPS. As a group, equities research analysts expect that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of 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 buying an additional 211,626 shares during the period. AIGH Capital Management LLC increased its stake in 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 purchasing an additional 200,000 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in LightPath Technologies by 104.7% in the second 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 period. Archon Capital Management LLC boosted its position in shares of 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 purchasing an additional 37,400 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its holdings in shares of 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 buying an additional 12,600 shares during the period. 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.