LightPath Technologies (NASDAQ:LPTH) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report published on Friday. The firm issued 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 note on Friday, September 20th.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $1.53 on Friday. LightPath Technologies has a 52 week low of $1.04 and a 52 week high of $1.74. The company’s 50 day moving average price is $1.47 and its two-hundred day moving average price is $1.37. The stock has a market cap of $60.69 million, a P/E ratio of -6.95 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly 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). LightPath Technologies had a negative return on equity of 26.51% and a negative net margin of 25.86%. The business had revenue of $8.63 million for the quarter, compared to the consensus estimate of $8.25 million. During the same quarter last year, the business posted ($0.02) earnings per share. On average, equities analysts predict that LightPath Technologies will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds have recently modified their holdings of the stock. Murphy Pohlad Asset Management LLC increased its position in LightPath Technologies by 22.3% in the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after buying an additional 12,600 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of 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 valued at $166,000 after buying an additional 67,429 shares during the last quarter. AIGH Capital Management LLC grew its stake 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. Archon Capital Management LLC increased its holdings in 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 acquiring an additional 37,400 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in LightPath Technologies by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after acquiring an additional 211,626 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.