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

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the technology company’s stock.

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

LightPath Technologies Stock Performance

Shares of LPTH opened at $1.48 on Friday. The business’s 50 day moving average is $1.50 and its two-hundred day moving average is $1.41. LightPath Technologies has a 52-week low of $1.12 and a 52-week high of $2.00. The firm has a market cap of $56.27 million, a price-to-earnings ratio of -10.57 and a beta of 1.43. The company has a quick ratio of 1.16, a current ratio of 1.93 and a debt-to-equity ratio of 0.02.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). LightPath Technologies had a negative net margin of 15.48% and a negative return on equity of 14.22%. The business had revenue of $7.32 million during the quarter, compared to analyst estimates of $8.72 million. Analysts forecast that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in shares of LightPath Technologies by 18.5% in the first quarter. State Street Corp now owns 50,834 shares of the technology company’s stock worth $100,000 after purchasing an additional 7,925 shares in the last quarter. Worth Venture Partners LLC grew its stake in shares of LightPath Technologies by 1.1% in the second quarter. Worth Venture Partners LLC now owns 845,962 shares of the technology company’s stock worth $1,142,000 after purchasing an additional 9,000 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of LightPath Technologies by 69.4% in the third quarter. Tower Research Capital LLC TRC now owns 29,075 shares of the technology company’s stock worth $31,000 after purchasing an additional 11,908 shares in the last quarter. Jane Street Group LLC bought a new position in shares of LightPath Technologies in the first quarter worth $30,000. Finally, Virtu Financial LLC bought a new position in shares of LightPath Technologies in the first quarter worth $36,000. 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.