LightPath Technologies (NASDAQ:LPTH) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued 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 report on Friday, September 20th.

LightPath Technologies Trading Up 4.8 %

LightPath Technologies stock opened at $2.64 on Tuesday. The stock has a 50-day moving average price of $1.71 and a 200 day moving average price of $1.45. The company has a market capitalization of $104.72 million, a price-to-earnings ratio of -12.00 and a beta of 1.32. LightPath Technologies has a 52 week low of $1.04 and a 52 week high of $2.86. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to analyst estimates of $8.25 million. LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Sell-side analysts anticipate that LightPath Technologies will post -0.14 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 valued at $2,169,000 after buying an additional 211,626 shares during the period. AIGH Capital Management LLC boosted its stake in shares of LightPath Technologies by 5.7% during the 2nd 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 in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of 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 valued at $166,000 after acquiring an additional 67,429 shares during the period. Finally, Murphy Pohlad Asset Management LLC increased 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 in the last quarter. 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.