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

Research analysts at StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

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

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $1.60 on Tuesday. The stock’s 50-day simple moving average is $1.36 and its 200-day simple moving average is $1.35. The firm has a market capitalization of $62.09 million, a PE ratio of -8.89 and a beta of 1.31. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $1.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.93.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). LightPath Technologies had a negative return on equity of 24.55% and a negative net margin of 25.24%. The company had revenue of $8.63 million for the quarter, compared to analyst estimates of $8.25 million. During the same period in the previous year, the business posted ($0.02) EPS. As a group, equities research analysts forecast that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC grew its holdings in shares of LightPath Technologies by 5.7% during 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. Archon Capital Management LLC grew its stake in shares of LightPath Technologies by 1.8% in the 1st quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock valued at $2,874,000 after purchasing an additional 37,400 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $2,169,000 after purchasing an additional 211,626 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of 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 worth $166,000 after purchasing an additional 67,429 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in shares of LightPath Technologies by 22.8% during the second quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock worth $71,000 after purchasing an additional 10,500 shares during the period. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.