HC Wainwright Reaffirms Buy Rating for LightPath Technologies (NASDAQ:LPTH)

LightPath Technologies (NASDAQ:LPTH)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $5.00 price target on the technology company’s stock. HC Wainwright’s price target would suggest a potential upside of 119.30% from the stock’s current price.

Several other research firms also recently commented on LPTH. Lake Street Capital upped their price target on shares of LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, December 27th. StockNews.com lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. Finally, LADENBURG THALM/SH SH increased their target price on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd.

LightPath Technologies Stock Up 2.2 %

Shares of NASDAQ:LPTH opened at $2.28 on Thursday. The firm has a 50 day simple moving average of $3.13 and a 200-day simple moving average of $2.10. LightPath Technologies has a twelve month low of $1.04 and a twelve month high of $4.42. The company has a current ratio of 1.53, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $91.57 million, a PE ratio of -9.50 and a beta of 1.01.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). LightPath Technologies had a negative return on equity of 31.13% and a negative net margin of 28.57%. The firm had revenue of $7.43 million for the quarter, compared to analyst estimates of $8.28 million. On average, equities analysts predict that LightPath Technologies will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in LightPath Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 389,619 shares of the technology company’s stock worth $1,376,000 after buying an additional 50,767 shares during the last quarter. EAM Investors LLC acquired a new position in shares of LightPath Technologies during the fourth quarter worth about $1,102,000. Connective Capital Management LLC acquired a new position in shares of LightPath Technologies during the fourth quarter worth about $733,000. Essex Investment Management Co. LLC purchased a new position in LightPath Technologies during the fourth quarter worth about $338,000. Finally, Murphy Pohlad Asset Management LLC lifted 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 valued at $95,000 after purchasing an additional 12,600 shares during the period. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.