LightPath Technologies (NASDAQ:LPTH) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.20 and traded as high as $2.40. LightPath Technologies shares last traded at $2.21, with a volume of 115,476 shares.

Analyst Ratings Changes

Several equities analysts have issued reports on LPTH shares. StockNews.com downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Lake Street Capital lifted their price target on LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a report on Friday, December 27th. LADENBURG THALM/SH SH upped their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of LightPath Technologies in a research report on Thursday, February 27th.

LightPath Technologies Price Performance

The firm has a market cap of $88.76 million, a price-to-earnings ratio of -9.21 and a beta of 1.67. The company’s fifty day moving average is $2.70 and its 200 day moving average is $2.20. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. The company had revenue of $7.43 million during the quarter, compared to analyst estimates of $8.28 million. On average, equities research analysts predict that LightPath Technologies, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Connective Capital Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at $733,000. Millennium Management LLC bought a new position in shares of LightPath Technologies in the fourth quarter worth $53,000. Cubist Systematic Strategies LLC acquired a new position in LightPath Technologies in the fourth quarter valued at about $32,000. Jane Street Group LLC acquired a new position in LightPath Technologies in the fourth quarter valued at about $111,000. Finally, Northern Trust Corp lifted its position in LightPath Technologies by 25.7% during the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company’s stock worth $226,000 after purchasing an additional 13,087 shares during the period. 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.