LightPath Technologies (NASDAQ:LPTH) Earns “Buy” Rating from HC Wainwright

LightPath Technologies (NASDAQ:LPTH)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $5.00 target price on the technology company’s stock. HC Wainwright’s price target would suggest a potential upside of 119.30% from the company’s current price.

Several other brokerages also recently issued reports on LPTH. StockNews.com downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Lake Street Capital boosted their price target on LightPath Technologies from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, December 27th. Finally, LADENBURG THALM/SH SH increased their price objective on LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd.

LightPath Technologies Trading Up 2.2 %

Shares of LPTH stock opened at $2.28 on Thursday. The stock has a market cap of $91.57 million, a P/E ratio of -9.50 and a beta of 1.01. 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 has a fifty-two week low of $1.04 and a fifty-two week high of $4.42. The business has a fifty day simple moving average of $3.13 and a 200-day simple moving average of $2.10.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $7.43 million for the quarter, compared to analysts’ expectations of $8.28 million. LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. On average, analysts forecast that LightPath Technologies will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in shares of LightPath Technologies during the 4th quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new position in LightPath Technologies in the fourth quarter valued at $32,000. Millennium Management LLC purchased a new position in LightPath Technologies during the fourth quarter worth about $53,000. Legato Capital Management LLC acquired a new stake in LightPath Technologies in the 4th quarter worth about $83,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies in the 4th quarter worth about $87,000. 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.