LightPath Technologies (NASDAQ:LPTH) Issues Earnings Results, Misses Expectations By $0.05 EPS

LightPath Technologies (NASDAQ:LPTH) released its quarterly earnings data on Thursday. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05), FiscalAI reports. The company had revenue of $21.16 million during the quarter, compared to analysts’ expectations of $20.60 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%.

LightPath Technologies Stock Down 4.5%

NASDAQ LPTH traded down $0.46 during midday trading on Thursday, hitting $9.68. 3,426,146 shares of the company traded hands, compared to its average volume of 3,162,228. LightPath Technologies has a 52 week low of $5.17 and a 52 week high of $18.94. The company’s 50-day simple moving average is $12.00 and its 200-day simple moving average is $12.75. The company has a market cap of $607.80 million, a PE ratio of -19.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in LPTH. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies in the third quarter worth about $82,000. Wexford Capital LP purchased a new stake in shares of LightPath Technologies during the third quarter valued at about $88,000. Jefferies Financial Group Inc. bought a new stake in shares of LightPath Technologies in the 3rd quarter valued at about $90,000. Jane Street Group LLC boosted its holdings in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after buying an additional 29,054 shares in the last quarter. Finally, Scientech Research LLC purchased a new position in shares of LightPath Technologies in the 3rd quarter worth approximately $135,000. Institutional investors own 56.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on LPTH shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Piper Sandler started coverage on LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price objective on the stock. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Canaccord Genuity Group decreased their target price on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.10.

About LightPath Technologies

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.