StockNews.com Initiates Coverage on LightPath Technologies (NASDAQ:LPTH)

Equities researchers at StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

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

LightPath Technologies Stock Performance

LPTH stock opened at $1.66 on Friday. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $1.74. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $1.54 and its 200-day moving average is $1.38. The firm has a market cap of $65.84 million, a P/E ratio of -7.55 and a beta of 1.30.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $8.63 million during the quarter, compared to the consensus estimate of $8.25 million. LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. During the same quarter last year, the company earned ($0.02) earnings per share. Equities analysts anticipate that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

Several large investors have recently made changes to their positions in LPTH. AIGH Capital Management LLC lifted its position 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 buying an additional 200,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of LightPath Technologies by 15.6% during the first 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 in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of LightPath Technologies by 104.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after purchasing an additional 67,429 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its holdings in shares of LightPath Technologies by 22.3% in the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after purchasing an additional 12,600 shares in the last quarter. 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.