B. Riley Wealth Advisors Inc. Trims Position in LightPath Technologies, Inc. (NASDAQ:LPTH)

B. Riley Wealth Advisors Inc. decreased its position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 39.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,824 shares of the technology company’s stock after selling 52,000 shares during the quarter. B. Riley Wealth Advisors Inc. owned approximately 0.20% of LightPath Technologies worth $110,000 at the end of the most recent quarter.

Separately, Murphy Pohlad Asset Management LLC raised its holdings in LightPath Technologies by 22.3% during the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after acquiring an additional 12,600 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Stock Up 3.5 %

LPTH opened at $2.69 on Monday. The company has a market capitalization of $106.70 million, a PE ratio of -12.23 and a beta of 1.32. The firm has a 50-day simple moving average of $1.75 and a two-hundred day simple moving average of $1.46. 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, Inc. has a 52 week low of $1.04 and a 52 week high of $2.86.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results 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 net margin of 25.86% and a negative return on equity of 26.51%. The firm had revenue of $8.63 million for the quarter, compared to the consensus estimate of $8.25 million. During the same period in the previous year, the company posted ($0.02) earnings per share. Analysts forecast that LightPath Technologies, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of LightPath Technologies in a research report on Friday, September 20th. StockNews.com assumed coverage on shares of LightPath Technologies in a report on Tuesday, December 17th. They set a “hold” rating for the company.

LightPath Technologies Profile

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.