StockNews.com initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH – Free Report) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the technology company’s stock.
Separately, Lake Street Capital began coverage on shares of LightPath Technologies in a research report on Thursday, January 18th. They issued a buy rating and a $3.00 price objective for the company.
Check Out Our Latest Research Report on LightPath Technologies
LightPath Technologies Stock Down 6.9 %
LightPath Technologies (NASDAQ:LPTH – Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $7.32 million during the quarter, compared to analysts’ expectations of $8.72 million. LightPath Technologies had a negative net margin of 15.48% and a negative return on equity of 14.22%. On average, sell-side analysts expect that LightPath Technologies will post -0.14 EPS for the current year.
Institutional Trading of LightPath Technologies
Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in LightPath Technologies in the 3rd quarter worth approximately $50,000. Murphy Pohlad Asset Management LLC lifted its holdings in shares of LightPath Technologies by 240.7% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock worth $58,000 after acquiring an additional 32,500 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in LightPath Technologies in the third quarter valued at $93,000. Worth Venture Partners LLC raised its position in LightPath Technologies by 9.9% during the third quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock valued at $1,348,000 after purchasing an additional 83,649 shares in the last quarter. Finally, AMH Equity Ltd lifted its stake in LightPath Technologies by 12.4% during the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock worth $3,552,000 after purchasing an additional 310,870 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.
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