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

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

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

LightPath Technologies Stock Down 0.7 %

NASDAQ:LPTH opened at $1.49 on Friday. LightPath Technologies has a twelve month low of $1.04 and a twelve month high of $1.74. The company has a market cap of $59.11 million, a price-to-earnings ratio of -6.77 and a beta of 1.30. The stock has a fifty day simple moving average of $1.50 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.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly 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). The firm had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.25 million. LightPath Technologies had a negative net margin of 25.86% and a negative return on equity of 26.51%. During the same quarter in the prior year, the business posted ($0.02) EPS. Analysts anticipate that LightPath Technologies will post -0.14 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC grew its stake in LightPath Technologies by 5.7% in the second quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock valued at $4,692,000 after purchasing an additional 200,000 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 last quarter. B. Riley Wealth Advisors Inc. grew its stake in LightPath Technologies by 104.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock valued at $166,000 after purchasing an additional 67,429 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its stake in LightPath Technologies by 22.3% in the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock valued at $95,000 after purchasing an additional 12,600 shares during the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

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.