LightPath Technologies (NASDAQ:LPTH) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report released on Friday morning. The firm issued a hold rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of LightPath Technologies in a report on Friday, September 20th.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $1.46 on Friday. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $1.74. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $57.91 million, a PE ratio of -6.64 and a beta of 1.30. The stock’s fifty day simple moving average is $1.46 and its two-hundred day simple moving average is $1.37.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. The firm had revenue of $8.63 million for the quarter, compared to the consensus estimate of $8.25 million. During the same period in the previous year, the business earned ($0.02) earnings per share. As a group, analysts forecast that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Institutional Trading of LightPath Technologies

A number of large investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC boosted its stake 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 acquiring an additional 200,000 shares during the last quarter. Archon Capital Management LLC lifted its stake in LightPath Technologies by 1.8% in the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock valued at $2,874,000 after purchasing an additional 37,400 shares during the last quarter. 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. B. Riley Wealth Advisors Inc. increased its position 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 worth $166,000 after buying an additional 67,429 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC raised its stake in shares of 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 buying an additional 12,600 shares during the period. Hedge funds and other 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.