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

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

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $3.50 price target on shares of LightPath Technologies in a research note on Tuesday, May 17th. B. Riley boosted their price target on shares of LightPath Technologies from $3.30 to $3.70 in a report on Friday, February 11th. Finally, Zacks Investment Research upgraded shares of LightPath Technologies from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a report on Saturday, May 21st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.07.

NASDAQ:LPTH opened at $1.66 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.51 and a quick ratio of 1.47. The firm has a market capitalization of $44.90 million, a price-to-earnings ratio of -8.74 and a beta of 1.33. The company’s 50-day moving average is $1.74 and its two-hundred day moving average is $2.06. LightPath Technologies has a 1-year low of $1.19 and a 1-year high of $3.57.

LightPath Technologies (NASDAQ:LPTHGet Rating) last posted its earnings results on Thursday, May 12th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $8.31 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($0.01) EPS. As a group, equities analysts anticipate that LightPath Technologies will post -0.1 earnings per share for the current fiscal year.

In related news, Director Darcie Peck purchased 22,500 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was acquired at an average price of $2.08 per share, for a total transaction of $46,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 11.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Worth Venture Partners LLC increased its holdings in shares of LightPath Technologies by 62.0% in the 1st quarter. Worth Venture Partners LLC now owns 509,425 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 195,018 shares in the last quarter. Virtu Financial LLC purchased a new position in LightPath Technologies during the 1st quarter valued at about $36,000. Jane Street Group LLC purchased a new position in LightPath Technologies during the 1st quarter valued at about $30,000. State Street Corp increased its holdings in LightPath Technologies by 18.5% during the 1st quarter. State Street Corp now owns 50,834 shares of the technology company’s stock valued at $100,000 after acquiring an additional 7,925 shares in the last quarter. Finally, AIGH Capital Management LLC increased its holdings in LightPath Technologies by 48.8% during the 1st quarter. AIGH Capital Management LLC now owns 2,039,832 shares of the technology company’s stock valued at $4,019,000 after acquiring an additional 669,252 shares in the last quarter. Institutional investors and hedge funds own 42.71% of the company’s stock.

LightPath Technologies Company Profile (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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