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

StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTHGet Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

LPTH has been the topic of a number of other reports. Zacks Investment Research raised shares of LightPath Technologies from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Saturday, May 21st. HC Wainwright reiterated a “buy” rating and set a $3.50 price objective on shares of LightPath Technologies in a research note on Tuesday, May 17th. Finally, B. Riley increased their price objective on shares of LightPath Technologies from $3.30 to $3.70 in a research note on Friday, February 11th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $3.07.

LPTH opened at $1.66 on Thursday. The firm has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $2.06. LightPath Technologies has a 52 week low of $1.19 and a 52 week high of $3.57. The company has a market capitalization of $44.90 million, a PE ratio of -8.74 and a beta of 1.33. The company has a quick ratio of 1.47, a current ratio of 2.51 and a debt-to-equity ratio of 0.11.

LightPath Technologies (NASDAQ:LPTHGet Rating) last announced its earnings results on Thursday, May 12th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $8.31 million for the quarter, compared to analysts’ expectations of $9.83 million. LightPath Technologies had a negative net margin of 14.56% and a negative return on equity of 15.63%. During the same period in the prior year, the company earned ($0.01) EPS. As a group, sell-side analysts expect that LightPath Technologies will post -0.1 earnings per share for the current year.

In related news, Director Darcie Peck purchased 22,500 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was acquired at an average price of $2.08 per share, with a total value of $46,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LPTH. Citadel Advisors LLC purchased a new position in shares of LightPath Technologies during the second quarter worth $149,000. Geode Capital Management LLC raised its holdings in shares of LightPath Technologies by 66.1% during the third quarter. Geode Capital Management LLC now owns 303,772 shares of the technology company’s stock worth $647,000 after purchasing an additional 120,870 shares during the last quarter. LPL Financial LLC raised its holdings in shares of LightPath Technologies by 55.3% during the third quarter. LPL Financial LLC now owns 36,500 shares of the technology company’s stock worth $78,000 after purchasing an additional 13,000 shares during the last quarter. Royce & Associates LP increased its holdings in LightPath Technologies by 4.1% in the fourth quarter. Royce & Associates LP now owns 1,218,084 shares of the technology company’s stock valued at $2,972,000 after buying an additional 48,100 shares in the last quarter. Finally, AIGH Capital Management LLC purchased a new position in LightPath Technologies in the fourth quarter valued at $3,344,000. 42.71% of the stock is owned by institutional investors and hedge funds.

About LightPath Technologies (Get Rating)

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. Its products are used in defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.

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