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

StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report released on Tuesday 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 note on Friday, September 20th.

LightPath Technologies Stock Down 1.5 %

Shares of NASDAQ:LPTH opened at $2.60 on Tuesday. The firm has a market capitalization of $103.13 million, a PE ratio of -11.82 and a beta of 1.32. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $2.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.03. The firm’s 50-day moving average is $1.73 and its two-hundred day moving average is $1.45.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results 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). LightPath Technologies had a negative return on equity of 26.51% and a negative net margin of 25.86%. The business had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.25 million. During the same period in the previous year, the company earned ($0.02) earnings per share. Analysts predict that LightPath Technologies will post -0.14 EPS for the current year.

Institutional Trading of LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in LPTH. AIGH Capital Management LLC increased its position in shares of 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 purchasing an additional 200,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 211,626 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of LightPath Technologies by 104.7% during 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 in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its stake in LightPath Technologies by 22.3% during the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after purchasing an additional 12,600 shares during the last quarter. Institutional investors and hedge funds 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.