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

StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report released on Saturday morning. The brokerage issued a hold rating on the technology company’s stock.

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

LightPath Technologies Trading Up 10.7 %

Shares of LPTH opened at $1.65 on Friday. The stock has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $1.37. The company has a current ratio of 1.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $65.46 million, a PE ratio of -7.50 and a beta of 1.30. LightPath Technologies has a 1 year low of $1.04 and a 1 year high of $1.74.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, September 19th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $8.25 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, sell-side analysts predict that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC grew its stake 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 valued at $71,000 after purchasing an additional 10,500 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in LightPath Technologies by 104.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock worth $166,000 after buying an additional 67,429 shares in the last quarter. Vanguard Group Inc. boosted its position in LightPath Technologies by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after buying an additional 211,626 shares during the last quarter. Finally, AIGH Capital Management LLC increased its stake in shares of LightPath Technologies by 5.7% in the 2nd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock valued at $4,692,000 after buying an additional 200,000 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.