Essex Investment Management Co. LLC Takes Position in LightPath Technologies, Inc. (NASDAQ:LPTH)

Essex Investment Management Co. LLC purchased a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 95,877 shares of the technology company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wealth Effects LLC bought a new position in LightPath Technologies in the fourth quarter valued at approximately $164,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies in the 4th quarter valued at $87,000. Legato Capital Management LLC bought a new position in shares of LightPath Technologies in the 4th quarter worth $83,000. Finally, Crewe Advisors LLC acquired a new stake in shares of LightPath Technologies during the fourth quarter worth $28,000. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Stock Down 3.5 %

Shares of LightPath Technologies stock opened at $2.19 on Monday. The company has a market capitalization of $87.95 million, a P/E ratio of -9.12 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 0.90. The business has a 50-day moving average of $3.03 and a two-hundred day moving average of $2.14. LightPath Technologies, Inc. has a 1 year low of $1.04 and a 1 year high of $4.42.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on LPTH shares. LADENBURG THALM/SH SH increased their target price on LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Lake Street Capital lifted their price objective on shares of LightPath Technologies from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday, December 27th. StockNews.com cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of LightPath Technologies in a report on Thursday, February 27th.

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.