LightPath Technologies (NASDAQ:LPTH) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

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

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH opened at $1.49 on Friday. The company has a market capitalization of $59.11 million, a price-to-earnings ratio of -6.77 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 firm’s 50-day moving average is $1.50 and its 200 day moving average is $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 issued its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $8.63 million during the quarter, compared to the consensus estimate of $8.25 million. LightPath Technologies had a negative return on equity of 26.51% and a negative net margin of 25.86%. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Research analysts predict that LightPath Technologies will post -0.14 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds have recently modified their holdings of LPTH. Vanguard Group Inc. lifted its position in shares of LightPath Technologies by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock worth $2,169,000 after purchasing an additional 211,626 shares during the period. Murphy Pohlad Asset Management LLC lifted its position in shares of LightPath Technologies by 22.8% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock worth $71,000 after purchasing an additional 10,500 shares during the period. AIGH Capital Management LLC lifted its position 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 purchasing an additional 200,000 shares during the period. Finally, 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. Hedge funds and other institutional investors 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.