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

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report released on Sunday morning. The brokerage issued a hold rating on the technology company’s stock.

Separately, Lake Street Capital began coverage on LightPath Technologies in a report on Thursday, January 18th. They set a buy rating and a $3.00 price target for the company.

LightPath Technologies Price Performance

LPTH stock opened at $1.45 on Friday. The company has a market capitalization of $55.13 million, a P/E ratio of -10.36 and a beta of 1.43. LightPath Technologies has a twelve month low of $1.12 and a twelve month high of $2.00. The business has a 50 day simple moving average of $1.49 and a 200-day simple moving average of $1.41. The company has a current ratio of 1.93, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data 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 firm had revenue of $7.32 million during the quarter, compared to analyst estimates of $8.72 million. LightPath Technologies had a negative net margin of 15.48% and a negative return on equity of 14.22%. As a group, equities analysts anticipate that LightPath Technologies will post -0.14 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new position in LightPath Technologies in the third quarter worth $50,000. Murphy Pohlad Asset Management LLC raised its position in LightPath Technologies by 240.7% in the fourth 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 in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in LightPath Technologies in the third quarter worth $93,000. Worth Venture Partners LLC raised its position in LightPath Technologies by 9.9% in the third quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock worth $1,348,000 after acquiring an additional 83,649 shares in the last quarter. Finally, AMH Equity Ltd raised its position in LightPath Technologies by 12.4% in the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock worth $3,552,000 after acquiring an additional 310,870 shares in the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

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.