LightPath Technologies, Inc. (NASDAQ:LPTH) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 353,700 shares, a decrease of 21.7% from the May 30th total of 451,500 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 160,400 shares, the short-interest ratio is presently 2.2 days.
LPTH traded up $0.02 on Friday, reaching $0.90. The company’s stock had a trading volume of 79,300 shares, compared to its average volume of 109,847. The business has a 50 day simple moving average of $0.96. The company has a quick ratio of 2.13, a current ratio of 3.54 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $23.92 million, a P/E ratio of 22.50 and a beta of 0.12. LightPath Technologies has a fifty-two week low of $0.83 and a fifty-two week high of $2.75.
LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The business had revenue of $7.91 million during the quarter, compared to analyst estimates of $8.98 million. LightPath Technologies had a negative net margin of 5.22% and a negative return on equity of 4.91%. On average, research analysts forecast that LightPath Technologies will post -0.06 EPS for the current year.
In related news, Director Robert Ripp acquired 51,249 shares of the stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $1.00 per share, with a total value of $51,249.00. Following the completion of the transaction, the director now owns 730,797 shares in the company, valued at approximately $730,797. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 73,249 shares of company stock worth $73,149 over the last quarter. Insiders own 12.80% of the company’s stock.
A hedge fund recently raised its stake in LightPath Technologies stock. Royce & Associates LP boosted its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 12.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,133,546 shares of the technology company’s stock after purchasing an additional 126,100 shares during the quarter. Royce & Associates LP owned about 4.39% of LightPath Technologies worth $1,700,000 as of its most recent SEC filing. 26.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of LightPath Technologies in a research report on Tuesday, May 7th. TheStreet raised ZTO Express (Cayman) from a “c+” rating to a “b” rating in a research report on Thursday, May 16th. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.00.
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 materials used to produce products that manipulate light. Its products are used in various industries, including 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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