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

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

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

LightPath Technologies Stock Performance

NASDAQ:LPTH opened at $1.57 on Wednesday. The stock’s fifty day moving average is $1.41 and its 200 day moving average is $1.36. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $1.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.93.

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 net margin of 25.24% and a negative return on equity of 24.55%. The firm had revenue of $8.63 million during the quarter, compared to analysts’ expectations of $8.25 million. During the same period in the prior year, the company posted ($0.02) EPS. As a group, equities research analysts forecast that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC increased its position in shares of 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 worth $71,000 after acquiring an additional 10,500 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in 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 purchasing an additional 67,429 shares during the period. Vanguard Group Inc. raised its position in LightPath Technologies by 15.6% during the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after purchasing an additional 211,626 shares in the last quarter. Archon Capital Management LLC lifted its holdings in shares of LightPath Technologies by 1.8% in the 1st 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 period. Finally, AIGH Capital Management LLC lifted its holdings 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 worth $4,692,000 after buying an additional 200,000 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.