LightPath Technologies, Inc. (NASDAQ:LPTH) Sees Significant Increase in Short Interest

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 216,900 shares, an increase of 197.9% from the December 31st total of 72,800 shares. Based on an average daily volume of 279,600 shares, the days-to-cover ratio is currently 0.8 days.

LightPath Technologies Price Performance

Shares of LightPath Technologies stock traded down $0.07 during trading on Wednesday, reaching $2.97. 158,767 shares of the company’s stock were exchanged, compared to its average volume of 453,387. The firm’s 50-day moving average price is $2.71 and its 200 day moving average price is $1.87. The company has a market cap of $117.82 million, a P/E ratio of -13.50 and a beta of 1.04. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $4.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.73.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.40 million during the quarter, compared to analysts’ expectations of $8.55 million. LightPath Technologies had a negative return on equity of 26.51% and a negative net margin of 25.86%. During the same period in the prior year, the company earned ($0.04) EPS. As a group, research analysts anticipate that LightPath Technologies will post -0.15 earnings per share for the current year.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of 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 valued at $166,000 after buying an additional 67,429 shares during the period. Murphy Pohlad Asset Management LLC lifted its position in shares of LightPath Technologies by 22.3% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after purchasing an additional 12,600 shares during the period. Wealth Effects LLC bought a new stake in shares of LightPath Technologies in the 4th quarter valued at $164,000. Crewe Advisors LLC bought a new position in LightPath Technologies during the fourth quarter worth $28,000. Finally, Legato Capital Management LLC acquired a new position in LightPath Technologies in the fourth quarter valued at $83,000. 56.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on LPTH. Lake Street Capital raised their price target on LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a research note 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. LADENBURG THALM/SH SH raised their price target on LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, HC Wainwright increased their price objective on LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd.

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.