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

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

Separately, HC Wainwright reiterated a buy rating and issued a $3.00 target price on shares of LightPath Technologies in a research note on Friday, May 10th.

LightPath Technologies Stock Performance

LPTH stock opened at $1.37 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.13 and a current ratio of 2.01. The stock has a market cap of $53.17 million, a P/E ratio of -7.61 and a beta of 1.30. The firm has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $1.39. LightPath Technologies has a 52 week low of $1.12 and a 52 week high of $1.89.

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

Institutional Trading of LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Murphy Pohlad Asset Management LLC raised its position in shares of LightPath Technologies by 240.7% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock valued at $58,000 after purchasing an additional 32,500 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of LightPath Technologies by 73.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock valued at $141,000 after purchasing an additional 47,429 shares during the period. Vanguard Group Inc. raised its position in shares of LightPath Technologies by 15.6% in 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. Archon Capital Management LLC raised its position in shares of 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 period. Finally, AMH Equity Ltd raised its position in shares of LightPath Technologies by 12.4% in the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock valued at $3,552,000 after purchasing an additional 310,870 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

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.