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

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of LightPath Technologies in a research note on Friday, September 20th.

LightPath Technologies Stock Down 10.0 %

LPTH stock opened at $1.53 on Wednesday. The company has a market capitalization of $59.37 million, a P/E ratio of -8.50 and a beta of 1.31. The firm has a 50 day simple moving average of $1.39 and a 200-day simple moving average of $1.36. The company has a current ratio of 1.93, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03. LightPath Technologies has a twelve month low of $1.04 and a twelve month high of $1.77.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company 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 period in the prior year, the business earned ($0.02) earnings per share. On average, equities research analysts predict that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in LightPath Technologies by 15.6% in the first quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after buying an additional 211,626 shares during the last quarter. Archon Capital Management LLC boosted its stake in LightPath Technologies by 1.8% during 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 purchasing an additional 37,400 shares during the period. Murphy Pohlad Asset Management LLC grew its position in LightPath Technologies by 22.8% in 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 during the last quarter. AIGH Capital Management LLC increased its stake 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 purchasing an additional 200,000 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings 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 buying an additional 67,429 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.