LightPath Technologies (NASDAQ:LPTH) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH - Free Report) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the technology company's stock.

Separately, HC Wainwright reissued a "buy" rating and set a $3.00 price objective on shares of LightPath Technologies in a research report on Friday, September 20th.

LightPath Technologies Trading Down 1.3 %

Shares of LPTH traded down $0.02 during midday trading on Thursday, reaching $1.58. The company had a trading volume of 27,766 shares, compared to its average volume of 54,495. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $1.74. The stock has a market cap of $62.58 million, a PE ratio of -7.27 and a beta of 1.30. The firm has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.36. The company has a quick ratio of 1.12, a current ratio of 1.93 and a debt-to-equity ratio of 0.03.

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

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LPTH. Vanguard Group Inc. boosted its stake in shares of 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 period. Archon Capital Management LLC increased its position in LightPath Technologies by 1.8% during 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 during the period. Murphy Pohlad Asset Management LLC increased its holdings in shares of LightPath Technologies by 22.8% in 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 period. AIGH Capital Management LLC boosted its stake in shares of 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 buying an additional 200,000 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of 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 buying an additional 67,429 shares in 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.