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

StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTHFree Report) in a report published on Monday. The brokerage issued a hold rating on the technology company’s stock.

Separately, HC Wainwright restated a buy rating and issued a $3.00 price objective on shares of LightPath Technologies in a report on Friday, May 10th.

Check Out Our Latest Stock Analysis on LightPath Technologies

LightPath Technologies Price Performance

NASDAQ LPTH opened at $1.26 on Monday. The company has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.01 and a quick ratio of 1.13. The firm has a market capitalization of $48.90 million, a price-to-earnings ratio of -7.00 and a beta of 1.25. LightPath Technologies has a 52-week low of $1.12 and a 52-week high of $2.00.

LightPath Technologies (NASDAQ:LPTHGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The company had revenue of $7.70 million during the quarter, compared to analysts’ expectations of $7.94 million. LightPath Technologies had a negative return on equity of 18.97% and a negative net margin of 19.72%. During the same period last year, the company earned ($0.03) earnings per share. Equities research analysts predict that LightPath Technologies will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds have recently added to or reduced their stakes in LPTH. AMH Equity Ltd grew its holdings in LightPath Technologies by 12.4% during the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock valued at $3,552,000 after purchasing an additional 310,870 shares during the last quarter. Archon Capital Management LLC grew its holdings 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 purchasing an additional 37,400 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 valued at $2,169,000 after purchasing an additional 211,626 shares during the last quarter. Worth Venture Partners LLC grew its holdings in LightPath Technologies by 9.9% during the third quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock valued at $1,348,000 after purchasing an additional 83,649 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position 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 valued at $141,000 after acquiring an additional 47,429 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

About LightPath Technologies

(Get Free Report)

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.

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