LightPath Technologies (NASDAQ:LPTH) Shares Gap Down – What’s Next?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) gapped down before the market opened on Wednesday. The stock had previously closed at $7.99, but opened at $7.57. LightPath Technologies shares last traded at $7.64, with a volume of 542,854 shares trading hands.

Wall Street Analysts Forecast Growth

LPTH has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Piper Sandler decreased their price objective on shares of LightPath Technologies from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Canaccord Genuity Group lowered their target price on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a research note on Tuesday, September 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, LightPath Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $14.38.

LightPath Technologies Stock Down 4.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.27. The business has a 50 day moving average price of $8.92 and a 200 day moving average price of $11.69. The firm has a market capitalization of $505.34 million, a P/E ratio of -20.60 and a beta of 1.53.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Tuesday, November 10th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $20.76 million during the quarter, compared to the consensus estimate of $21.93 million. LightPath Technologies had a negative return on equity of 4.92% and a negative net margin of 25.00%. On average, analysts predict that LightPath Technologies, Inc. will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LPTH. AWM Investment Company Inc. bought a new stake in shares of LightPath Technologies in the second quarter valued at approximately $41,488,000. Tema ETFs LLC increased its position in LightPath Technologies by 129,258.4% during the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after acquiring an additional 1,985,409 shares during the period. Tidal Investments LLC raised its stake in LightPath Technologies by 10,315.1% during the 2nd quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock valued at $31,925,000 after purchasing an additional 1,933,881 shares during the last quarter. CenterBook Partners LP raised its stake in LightPath Technologies by 117.8% during the 3rd quarter. CenterBook Partners LP now owns 1,042,156 shares of the technology company’s stock valued at $10,745,000 after purchasing an additional 563,654 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in LightPath Technologies by 2.1% in the 3rd quarter. Royce & Associates LP now owns 989,621 shares of the technology company’s stock valued at $10,203,000 after purchasing an additional 20,000 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

LightPath Technologies, Inc. designs and manufactures optical components and assemblies for commercial and government customers. Its products include precision-molded glass aspheric lenses, infrared optics, and custom optical systems used in applications such as thermal imaging and sensing. The company serves markets including aerospace and defense, industrial, medical, and telecommunications. Its capabilities span optical design, materials development, manufacturing, and assembly, supporting customers from component selection through integrated optical solutions.