LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Update

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 59,200 shares, a decline of 12.8% from the May 31st total of 67,900 shares. Based on an average daily trading volume, of 57,300 shares, the days-to-cover ratio is currently 1.0 days.

LightPath Technologies Stock Performance

NASDAQ LPTH remained flat at $1.26 during trading on Monday. The company’s stock had a trading volume of 54,375 shares, compared to its average volume of 56,912. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.01 and a quick ratio of 1.13. LightPath Technologies has a fifty-two week low of $1.12 and a fifty-two week high of $2.00. The company has a 50-day moving average of $1.32 and a 200-day moving average of $1.39.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). LightPath Technologies had a negative net margin of 19.72% and a negative return on equity of 18.97%. The business had revenue of $7.70 million during the quarter, compared to analysts’ expectations of $7.94 million. During the same period last year, the business posted ($0.03) earnings per share. On average, research analysts predict that LightPath Technologies will post -0.2 EPS for the current fiscal year.

Institutional Trading of LightPath Technologies

Several hedge funds have recently made changes to their positions in LPTH. Murphy Pohlad Asset Management LLC boosted its stake in LightPath Technologies by 240.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock worth $58,000 after buying an additional 32,500 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of LightPath Technologies during the 3rd quarter worth about $93,000. Worth Venture Partners LLC boosted its stake in shares of LightPath Technologies by 9.9% during the 3rd quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock worth $1,348,000 after purchasing an additional 83,649 shares during the period. Vanguard Group Inc. grew its holdings in LightPath Technologies by 15.6% during the 1st 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 last quarter. Finally, Archon Capital Management LLC raised its position 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 purchasing an additional 37,400 shares during the period. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LPTH shares. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of LightPath Technologies in a research report on Friday, May 10th. StockNews.com began coverage on LightPath Technologies in a research note on Monday, June 24th. They issued a “hold” rating on the 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.