B. Riley Wealth Advisors Inc. Reduces Holdings in LightPath Technologies, Inc. (NASDAQ:LPTH)

B. Riley Wealth Advisors Inc. lowered its position in LightPath Technologies, Inc. (NASDAQ:LPTH) by 39.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 79,824 shares of the technology company’s stock after selling 52,000 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in LightPath Technologies were worth $110,000 at the end of the most recent quarter.

Separately, 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 valued at $95,000 after purchasing an additional 12,600 shares during the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LPTH. StockNews.com assumed coverage on LightPath Technologies in a research report on Tuesday, December 17th. They set a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of LightPath Technologies in a report on Friday, September 20th.

LightPath Technologies Trading Up 3.5 %

LPTH stock opened at $2.69 on Monday. LightPath Technologies, Inc. has a 12 month low of $1.04 and a 12 month high of $2.86. The firm’s 50-day moving average is $1.75 and its 200 day moving average is $1.46. The company has a market capitalization of $106.70 million, a PE ratio of -12.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.03.

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 for the quarter, compared to analysts’ expectations 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 period last year, the business posted ($0.02) earnings per share. On average, research analysts anticipate that LightPath Technologies, Inc. will post -0.14 EPS for the current year.

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.