LightPath Technologies (NASDAQ:LPTH) Cut to Sell at StockNews.com

LightPath Technologies (NASDAQ:LPTH) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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

LightPath Technologies Trading Down 4.6 %

NASDAQ:LPTH opened at $3.10 on Wednesday. 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 company has a market capitalization of $122.98 million, a PE ratio of -14.09 and a beta of 1.32. The stock has a fifty day simple moving average of $1.88 and a 200-day simple moving average of $1.52. LightPath Technologies has a 52-week low of $1.04 and a 52-week high of $3.49.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. AIGH Capital Management LLC lifted its holdings 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 worth $4,692,000 after acquiring an additional 200,000 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of LightPath Technologies by 104.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock worth $166,000 after buying an additional 67,429 shares during the period. Finally, Murphy Pohlad Asset Management LLC raised its stake in shares of LightPath Technologies by 22.3% during the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after purchasing an additional 12,600 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.