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

StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report published on Monday. The firm 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 report on Friday, May 10th.

LightPath Technologies Price Performance

LPTH opened at $1.22 on Monday. The firm has a market cap of $47.35 million, a P/E ratio of -6.78 and a beta of 1.25. The firm has a 50-day moving average of $1.33 and a 200 day moving average of $1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.13 and a current ratio of 2.01. LightPath Technologies has a fifty-two week low of $1.12 and a fifty-two week high of $2.00.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $7.70 million for the quarter, compared to analysts’ expectations of $7.94 million. LightPath Technologies had a negative net margin of 19.72% and a negative return on equity of 18.97%. During the same period last year, the company earned ($0.03) earnings per share. On average, research analysts expect that LightPath Technologies will post -0.2 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC lifted its holdings in shares of LightPath Technologies by 240.7% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock worth $58,000 after buying an additional 32,500 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of LightPath Technologies in the third quarter worth about $93,000. Worth Venture Partners LLC lifted its holdings in shares of LightPath Technologies by 9.9% in the third quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock worth $1,348,000 after buying an additional 83,649 shares in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 211,626 shares in the last quarter. Finally, Archon Capital Management LLC lifted 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 buying an additional 37,400 shares in the last quarter. 56.29% of the stock is 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.