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

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

Separately, HC Wainwright reiterated 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 Trading Up 0.6 %

Shares of LightPath Technologies stock opened at $1.60 on Thursday. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.74. The company’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.36. The company has a market cap of $63.38 million, a price-to-earnings ratio of -7.27 and a beta of 1.30. The company has a current ratio of 1.93, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly 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). The company had revenue of $8.63 million during the quarter, compared to analyst estimates 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 prior year, the business earned ($0.02) earnings per share. As a group, sell-side analysts expect that LightPath Technologies will post -0.14 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC increased its position in LightPath Technologies by 22.3% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after acquiring an additional 12,600 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in 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 valued at $166,000 after buying an additional 67,429 shares during the period. AIGH Capital Management LLC increased its holdings in LightPath Technologies by 5.7% in 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 during the last quarter. Archon Capital Management LLC grew its position in shares of LightPath Technologies by 1.8% during 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, Vanguard Group Inc. grew 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 purchasing an additional 211,626 shares during the period. 56.29% of the stock is owned by institutional investors and hedge funds.

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.