LightPath Technologies (NASDAQ:LPTH) Shares Pass Above 200 Day Moving Average - Here's Why

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.72 and traded as high as $3.20. LightPath Technologies shares last traded at $2.98, with a volume of 647,469 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on LPTH. Lake Street Capital increased their price target on LightPath Technologies from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Friday, December 27th. StockNews.com downgraded LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, January 4th. LADENBURG THALM/SH SH increased their price objective on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, January 2nd. Finally, HC Wainwright upped their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, January 3rd.

LightPath Technologies Price Performance

The business's fifty day moving average price is $2.35 and its 200 day moving average price is $1.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.03. The stock has a market cap of $117.81 million, a P/E ratio of -13.50 and a beta of 1.04.

Hedge Funds Weigh In On LightPath Technologies

A hedge fund recently raised its stake in LightPath Technologies stock. Murphy Pohlad Asset Management LLC increased its position in LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 22.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,100 shares of the technology company's stock after buying an additional 12,600 shares during the quarter. Murphy Pohlad Asset Management LLC owned 0.18% of LightPath Technologies worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.