LightPath Technologies (NASDAQ:LPTH) Earns Hold Rating from Analysts at StockNews.com

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

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

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $2.19 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.73. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $2.33. The company has a market cap of $86.87 million, a PE ratio of -9.95 and a beta of 1.32. The business has a 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $1.43.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm 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 26.51% and a negative net margin of 25.86%. During the same period last year, the firm earned ($0.02) EPS. As a group, equities analysts expect that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPTH. Murphy Pohlad Asset Management LLC lifted its stake in shares of LightPath Technologies by 22.3% in the 3rd 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 during the last quarter. B. Riley Wealth Advisors Inc. increased 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 worth $166,000 after purchasing an additional 67,429 shares during the period. AIGH Capital Management LLC increased its holdings in shares of LightPath Technologies by 5.7% in the 2nd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock valued at $4,692,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Vanguard Group Inc. increased 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 acquiring an additional 211,626 shares during the last quarter. Institutional investors and hedge funds 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.