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

StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

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

LightPath Technologies Trading Up 9.9 %

NASDAQ LPTH opened at $1.83 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.38. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $1.85. The firm has a market capitalization of $72.40 million, a P/E ratio of -8.30 and a beta of 1.30.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. The firm had revenue of $8.63 million during the quarter, compared to analysts’ expectations of $8.25 million. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, analysts predict that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC grew its position in shares of LightPath Technologies by 22.8% during 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 period. B. Riley Wealth Advisors Inc. grew its holdings in LightPath Technologies by 104.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after purchasing an additional 67,429 shares during the period. Vanguard Group Inc. increased its position in LightPath Technologies by 15.6% in the first quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock worth $2,169,000 after buying an additional 211,626 shares during the last quarter. Finally, AIGH Capital Management LLC increased its position 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 worth $4,692,000 after buying an additional 200,000 shares during the last quarter. Institutional investors 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.