LightPath Technologies (NASDAQ:LPTH) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.84 and traded as high as $3.33. LightPath Technologies shares last traded at $3.23, with a volume of 205,590 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. LADENBURG THALM/SH SH lifted their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Lake Street Capital lifted their price objective on shares of LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, December 27th. Finally, HC Wainwright lifted their price objective on shares of LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, January 3rd.

LightPath Technologies Trading Down 1.2 %

The business’s 50 day simple moving average is $2.65 and its two-hundred day simple moving average is $1.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.73.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.40 million for the quarter, compared to analyst estimates of $8.55 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 ($0.04) earnings per share. As a group, sell-side analysts predict that LightPath Technologies, Inc. will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Effects LLC acquired a new position in shares of LightPath Technologies during the fourth quarter valued at about $164,000. Murphy Pohlad Asset Management LLC raised its holdings in shares of 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 valued at $95,000 after purchasing an additional 12,600 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of LightPath Technologies by 104.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after purchasing an additional 67,429 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.