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

StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the technology company’s stock.

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

LightPath Technologies Stock Performance

LPTH opened at $1.56 on Thursday. The business’s 50-day moving average price is $1.43 and its two-hundred day moving average price is $1.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.12. The company has a market capitalization of $61.80 million, a price-to-earnings ratio of -7.09 and a beta of 1.30. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.74.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). LightPath Technologies had a negative return on equity of 24.55% and a negative net margin of 25.24%. The business had revenue of $8.63 million for the quarter, compared to analyst estimates of $8.25 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Equities analysts expect that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC boosted its stake 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 valued at $71,000 after purchasing an additional 10,500 shares during the period. Archon Capital Management LLC boosted its position in shares of LightPath Technologies by 1.8% in 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 during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of LightPath Technologies by 104.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after acquiring an additional 67,429 shares in the last quarter. AIGH Capital Management LLC increased its position in LightPath Technologies by 5.7% during the second quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock worth $4,692,000 after acquiring an additional 200,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in LightPath Technologies by 15.6% in the 1st 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. 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.