LightPath Technologies, Inc. (LPTH) Trading Up 8.3% Following Better-Than-Expected Earnings

LightPath Technologies, Inc. (NASDAQ:LPTH) shares were up 8.3% on Friday following a better than expected earnings announcement. The stock traded as high as $2.84 and last traded at $2.61. Approximately 1,457,289 shares changed hands during trading, an increase of 957% from the average daily volume of 137,906 shares. The stock had previously closed at $2.41.

The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.20. The business had revenue of $9.01 million for the quarter, compared to analysts’ expectations of $8.75 million. LightPath Technologies had a return on equity of 97.02% and a net margin of 70.65%.

A number of research analysts recently commented on LPTH shares. Zacks Investment Research cut LightPath Technologies from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. ValuEngine raised LightPath Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $3.00.

Several large investors have recently made changes to their positions in the company. Manatuck Hill Partners LLC grew its stake in shares of LightPath Technologies by 2.3% during the second quarter. Manatuck Hill Partners LLC now owns 1,125,000 shares of the technology company’s stock valued at $3,038,000 after buying an additional 25,000 shares during the last quarter. US Bancorp DE bought a new position in shares of LightPath Technologies during the first quarter valued at about $137,000. Spark Investment Management LLC bought a new position in shares of LightPath Technologies during the second quarter valued at about $174,000. Royce & Associates LP grew its stake in shares of LightPath Technologies by 17.4% during the first quarter. Royce & Associates LP now owns 675,000 shares of the technology company’s stock valued at $1,850,000 after buying an additional 100,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of LightPath Technologies by 19.0% during the second quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after buying an additional 114,279 shares during the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

The stock’s 50-day moving average price is $2.57 and its 200 day moving average price is $2.66. The company has a market cap of $62.94 million, a PE ratio of 29.00 and a beta of -0.59.

COPYRIGHT VIOLATION WARNING: “LightPath Technologies, Inc. (LPTH) Trading Up 8.3% Following Better-Than-Expected Earnings” was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://transcriptdaily.com/2017/09/17/lightpath-technologies-inc-lpth-trading-up-8-3-following-better-than-expected-earnings.html.

About LightPath Technologies

LightPath Technologies, Inc is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies.

Receive News & Ratings for LightPath Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LightPath Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply