StockNews.com Begins Coverage on LightPath Technologies (NASDAQ:LPTH)

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report published on Saturday. The firm issued a hold rating on the technology company’s stock.

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

LightPath Technologies Stock Up 2.1 %

Shares of LPTH opened at $1.40 on Friday. The firm has a market capitalization of $54.29 million, a P/E ratio of -7.77 and a beta of 1.30. LightPath Technologies has a 12-month low of $1.12 and a 12-month high of $1.85. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $1.29 and a 200-day moving average price of $1.40.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $7.70 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted ($0.03) earnings per share. Equities research analysts expect that LightPath Technologies will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. AMH Equity Ltd increased its holdings in shares of LightPath Technologies by 12.4% in 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 period. B. Riley Wealth Advisors Inc. raised its holdings 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 worth $141,000 after acquiring an additional 47,429 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 211,626 shares during the last quarter. Archon Capital Management LLC raised its holdings in shares of LightPath Technologies by 1.8% in the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after acquiring an additional 37,400 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its stake in LightPath Technologies by 22.8% in the second quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock valued at $71,000 after purchasing an additional 10,500 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Company 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.