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

Equities researchers at StockNews.com started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a report issued on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

Separately, Lake Street Capital initiated coverage on shares of LightPath Technologies in a report on Thursday, January 18th. They issued a “buy” rating and a $3.00 price objective for the company.

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH opened at $1.39 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.93 and a quick ratio of 1.16. LightPath Technologies has a 1 year low of $1.12 and a 1 year high of $2.00. The stock has a market capitalization of $52.85 million, a price-to-earnings ratio of -9.93 and a beta of 1.41. The company’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $1.41.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.05) earnings per share 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 company had revenue of $7.32 million during the quarter, compared to analyst estimates of $8.72 million. As a group, research analysts predict that LightPath Technologies will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AIGH Capital Management LLC lifted its position in shares of LightPath Technologies by 9.9% in the 3rd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock worth $5,400,000 after purchasing an additional 335,000 shares during the period. AMH Equity Ltd boosted its position in LightPath Technologies by 12.4% during the fourth quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock valued at $3,552,000 after acquiring an additional 310,870 shares during the last quarter. Worth Venture Partners LLC grew its holdings in LightPath Technologies by 9.9% during the 3rd 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 during the period. B. Riley Wealth Advisors Inc. raised its position in shares of LightPath Technologies by 73.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock worth $141,000 after acquiring an additional 47,429 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its stake in shares of LightPath Technologies by 240.7% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock valued at $58,000 after purchasing an additional 32,500 shares during the period. 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.