LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Down 12.8% in June

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 59,200 shares, a decline of 12.8% from the May 31st total of 67,900 shares. Based on an average trading volume of 57,300 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of LightPath Technologies in a research note on Friday, May 10th. StockNews.com assumed coverage on shares of LightPath Technologies in a research note on Monday, June 24th. They set a “hold” rating on the stock.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $1.26 on Friday. LightPath Technologies has a one year low of $1.12 and a one year high of $2.00. The firm has a market capitalization of $48.90 million, a price-to-earnings ratio of -7.00 and a beta of 1.25. The company’s fifty day moving average price is $1.32 and its 200-day moving average price is $1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.01 and a quick ratio of 1.13.

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

Institutional Investors Weigh In On LightPath Technologies

Institutional investors have recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC boosted its position in LightPath Technologies by 240.7% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock valued at $58,000 after buying an additional 32,500 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $93,000. Worth Venture Partners LLC lifted its position in shares of LightPath Technologies by 9.9% in the 3rd quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock worth $1,348,000 after purchasing an additional 83,649 shares during the period. Vanguard Group Inc. lifted its position 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 worth $2,169,000 after purchasing an additional 211,626 shares during the period. Finally, Archon Capital Management LLC lifted its position in shares of LightPath Technologies by 1.8% in the 1st quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after purchasing an additional 37,400 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.