Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Decreases By 22.0%

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 338,000 shares, a decrease of 22.0% from the February 13th total of 433,100 shares. Based on an average daily volume of 409,100 shares, the short-interest ratio is currently 0.8 days. Approximately 0.9% of the shares of the company are short sold.

LightPath Technologies Price Performance

Shares of LPTH stock traded up $0.04 during mid-day trading on Monday, reaching $2.12. The company’s stock had a trading volume of 75,402 shares, compared to its average volume of 152,620. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $4.42. The company has a market cap of $84.94 million, a P/E ratio of -8.81 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 1.53. The firm’s 50-day moving average is $2.85 and its two-hundred day moving average is $2.16.

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

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in shares of LightPath Technologies during the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of LightPath Technologies during the 4th quarter worth about $32,000. Millennium Management LLC acquired a new stake in shares of LightPath Technologies during the 4th quarter worth about $53,000. Legato Capital Management LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at about $83,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies in the 4th quarter valued at about $87,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LPTH. StockNews.com downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of LightPath Technologies in a report on Thursday, February 27th. LADENBURG THALM/SH SH increased their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Lake Street Capital increased their price target on shares of LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a report on Friday, December 27th.

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.