LightPath Technologies (NASDAQ:LPTH) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.94 and traded as high as $3.30. LightPath Technologies shares last traded at $3.26, with a volume of 243,145 shares traded.

Wall Street Analysts Forecast Growth

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

LightPath Technologies Price Performance

The stock has a market capitalization of $129.32 million, a PE ratio of -14.82 and a beta of 1.01. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $2.89 and its 200-day moving average price is $1.94.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.40 million during 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 period in the previous year, the firm earned ($0.04) earnings per share. As a group, equities analysts forecast that LightPath Technologies, Inc. will post -0.15 EPS for the current year.

Institutional Trading of LightPath Technologies

A number of large investors have recently made changes to their positions in LPTH. J.W. Cole Advisors Inc. bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $87,000. Legato Capital Management LLC bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $83,000. Crewe Advisors LLC bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $28,000. Wealth Effects LLC bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $164,000. Finally, Murphy Pohlad Asset Management LLC raised its holdings in shares of LightPath Technologies by 22.3% in the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after acquiring an additional 12,600 shares in the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.