LightPath Technologies (NASDAQ:LPTH) Announces Earnings Results, Beats Expectations By $0.01 EPS

LightPath Technologies (NASDAQ:LPTH) released its quarterly earnings results on Tuesday. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01, FiscalAI reports. LightPath Technologies had a negative net margin of 28.65% and a negative return on equity of 7.02%. The company had revenue of $20.76 million for the quarter, compared to the consensus estimate of $21.93 million.

LightPath Technologies Stock Performance

NASDAQ LPTH traded down $0.02 on Tuesday, hitting $7.99. 2,560,450 shares of the stock were exchanged, compared to its average volume of 3,119,146. The stock has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $11.76. The firm has a market capitalization of $560.02 million, a P/E ratio of -19.97 and a beta of 1.53. LightPath Technologies has a 52-week low of $5.83 and a 52-week high of $18.94.

Analyst Upgrades and Downgrades

LPTH has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, October 15th. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Piper Sandler dropped their price target on LightPath Technologies from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Finally, Canaccord Genuity Group reduced their price objective on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.70.

About LightPath Technologies

LightPath Technologies, Inc. is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company’s products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths. Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.