StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH – Free Report) in a research note released on Tuesday. The firm 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 report on Friday, September 20th.
View Our Latest Report on LightPath Technologies
LightPath Technologies Stock Down 2.4 %
LightPath Technologies (NASDAQ:LPTH – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.63 million during the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned ($0.02) earnings per share. On average, analysts anticipate that LightPath Technologies will post -0.14 EPS for the current fiscal year.
Hedge Funds Weigh In On LightPath Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in LightPath Technologies by 15.6% during the first 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. AIGH Capital Management LLC increased its position in shares of LightPath Technologies by 5.7% during 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. B. Riley Wealth Advisors Inc. lifted its stake in shares of LightPath Technologies by 104.7% in the 2nd 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 holdings 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 buying an additional 37,400 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its position in LightPath Technologies by 22.8% during the second quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock valued at $71,000 after buying an additional 10,500 shares during the period. 56.29% of the stock is owned by 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.
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