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

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

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

LightPath Technologies Stock Down 2.5 %

NASDAQ LPTH traded down $0.04 during trading on Thursday, hitting $1.54. The stock had a trading volume of 16,566 shares, compared to its average volume of 54,321. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $1.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.93. The company’s 50-day moving average price is $1.43 and its two-hundred day moving average price is $1.36. The company has a market capitalization of $61.00 million, a PE ratio of -7.18 and a beta of 1.30.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to analyst estimates of $8.25 million. LightPath Technologies had a negative return on equity of 24.55% and a negative net margin of 25.24%. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, sell-side analysts forecast that LightPath Technologies will post -0.14 EPS for the current year.

Institutional Trading of LightPath Technologies

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of LightPath Technologies by 15.6% in 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 period. Archon Capital Management LLC increased its position in LightPath Technologies by 1.8% during the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after buying an additional 37,400 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its stake in LightPath Technologies by 22.8% in the second quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock valued at $71,000 after buying an additional 10,500 shares during the period. AIGH Capital Management LLC lifted its position in shares of 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 buying an additional 200,000 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of LightPath Technologies by 104.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock worth $166,000 after acquiring an additional 67,429 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.