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

Analysts at StockNews.com assumed coverage on shares of LightPath Technologies (NASDAQ:LPTH - Get Free Report) in a research note issued to investors on Sunday. The brokerage set a "hold" rating on the technology company's stock.

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

LightPath Technologies Price Performance

Shares of LPTH stock remained flat at $1.66 on Friday. 58,507 shares of the stock were exchanged, compared to its average volume of 81,859. The firm has a 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.38. LightPath Technologies has a 52-week low of $1.04 and a 52-week high of $1.74. The firm has a market capitalization of $65.85 million, a PE ratio of -7.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.03.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $8.63 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted ($0.02) EPS. On average, sell-side analysts forecast that LightPath Technologies will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 valued at $2,169,000 after buying an additional 211,626 shares during the last quarter. Murphy Pohlad Asset Management LLC boosted its holdings in 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 in the last quarter. AIGH Capital Management LLC grew its holdings in shares of LightPath Technologies by 5.7% during the second quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company's stock worth $4,692,000 after purchasing an additional 200,000 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake 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 purchasing an additional 67,429 shares during the period. Institutional investors and hedge funds 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.