LightPath Technologies (NASDAQ:LPTH) Raised to “Hold” at Zacks Investment Research

LightPath Technologies (NASDAQ:LPTHGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “

A number of other research analysts have also commented on LPTH. B. Riley upped their price objective on shares of LightPath Technologies from $3.30 to $3.70 in a research report on Friday, February 11th. StockNews.com started coverage on shares of LightPath Technologies in a research report on Friday, April 8th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $3.73.

Shares of LPTH traded down $0.13 during trading hours on Wednesday, reaching $1.77. 252,342 shares of the company traded hands, compared to its average volume of 146,999. The stock’s fifty day moving average is $2.10 and its 200 day moving average is $2.15. The stock has a market cap of $47.85 million, a P/E ratio of -9.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.52 and a current ratio of 2.55. LightPath Technologies has a 1-year low of $1.52 and a 1-year high of $3.57.

LightPath Technologies (NASDAQ:LPTHGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). The company had revenue of $9.24 million for the quarter, compared to analyst estimates of $9.67 million. LightPath Technologies had a negative net margin of 12.90% and a negative return on equity of 14.34%. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities research analysts predict that LightPath Technologies will post -0.11 EPS for the current year.

In other LightPath Technologies news, Director Darcie Peck purchased 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was purchased at an average price of $2.08 per share, with a total value of $46,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 29,500 shares of company stock valued at $60,880 in the last three months. Company insiders own 7.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of LPTH. Goldman Sachs Group Inc. bought a new stake in LightPath Technologies during the fourth quarter worth about $52,000. Susquehanna International Group LLP grew its stake in LightPath Technologies by 61.1% during the fourth quarter. Susquehanna International Group LLP now owns 21,667 shares of the technology company’s stock worth $53,000 after buying an additional 8,216 shares during the last quarter. LPL Financial LLC grew its stake in 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 buying an additional 13,000 shares during the last quarter. Citadel Advisors LLC bought a new stake in LightPath Technologies during the second quarter worth about $149,000. Finally, Geode Capital Management LLC grew its stake in 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 buying an additional 120,870 shares during the last quarter. 37.36% of the stock is currently owned by hedge funds and other institutional investors.

About LightPath Technologies (Get Rating)

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical and infrared components. Its products include molded glass and assemblies, infrared molded lenses, diamond turned, conventional ground and polished ground lenses and assemblies, and collimator assemblies, which are used in applications involving light detection and ranging technology.

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