HC Wainwright Reiterates Buy Rating for LightPath Technologies (NASDAQ:LPTH)

LightPath Technologies (NASDAQ:LPTH)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $3.00 target price on the technology company’s stock. HC Wainwright’s target price would indicate a potential upside of 136.22% from the company’s current price.

Separately, StockNews.com started coverage on shares of LightPath Technologies in a research report on Friday. They set a “hold” rating on the stock.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock opened at $1.27 on Friday. The business’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.35. The company has a market cap of $49.28 million, a price-to-earnings ratio of -7.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.13 and a current ratio of 2.01. LightPath Technologies has a one year low of $1.04 and a one year high of $1.77.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of LightPath Technologies by 15.6% during 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. AIGH Capital Management LLC lifted its stake in LightPath Technologies by 5.7% during the 2nd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock worth $4,692,000 after acquiring an additional 200,000 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in 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 valued at $166,000 after acquiring an additional 67,429 shares during the period. Archon Capital Management LLC grew its position in 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 valued at $2,874,000 after acquiring an additional 37,400 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its stake in LightPath Technologies by 22.8% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock worth $71,000 after purchasing an additional 10,500 shares in the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.