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

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report report published on Tuesday. The brokerage issued a hold rating on the technology company’s stock.

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

LightPath Technologies Price Performance

Shares of LPTH stock opened at $1.66 on Tuesday. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $1.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.93. The firm has a market capitalization of $65.75 million, a price-to-earnings ratio of -7.55 and a beta of 1.31. The stock’s 50-day simple moving average is $1.38 and its 200-day simple moving average is $1.36.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results 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 analysts’ expectations 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 firm posted ($0.02) EPS. As a group, equities analysts forecast that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC boosted its holdings in shares of 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 valued at $71,000 after acquiring an additional 10,500 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of LightPath Technologies by 73.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock worth $141,000 after buying an additional 47,429 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 211,626 shares during the period. Archon Capital Management LLC raised its position in LightPath Technologies by 1.8% during the first 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, AIGH Capital Management LLC lifted its holdings in 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 acquiring an additional 200,000 shares during the period. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.