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

Research analysts at StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the technology company’s stock.

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

LightPath Technologies Price Performance

LPTH stock opened at $1.56 on Friday. The stock has a market cap of $61.89 million, a PE ratio of -7.09 and a beta of 1.30. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $1.74. The company has a 50-day moving average price of $1.46 and a 200 day moving average price of $1.37. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, September 19th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. The business had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.25 million. During the same quarter last year, the firm earned ($0.02) EPS. Equities research analysts anticipate that LightPath Technologies will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors have recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC grew its holdings in LightPath Technologies by 22.3% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after acquiring an additional 12,600 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position 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. AIGH Capital Management LLC boosted its stake in shares of LightPath Technologies by 5.7% during the second 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 in the last quarter. Archon Capital Management LLC increased its holdings in LightPath Technologies by 1.8% during the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock valued at $2,874,000 after buying an additional 37,400 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 buying an additional 211,626 shares during the period. Hedge funds and other 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.