Zacks Investment Research downgraded shares of LightPath Technologies, Inc. (NASDAQ:LPTH) from a hold rating to a sell rating in a research note published on Wednesday.
According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “
Several other research firms also recently commented on LPTH. ValuEngine raised shares of LightPath Technologies from a hold rating to a buy rating in a report on Friday, September 1st. Dougherty & Co reissued a buy rating and set a $3.10 price objective on shares of LightPath Technologies in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. LightPath Technologies has a consensus rating of Buy and an average target price of $2.80.
Shares of LightPath Technologies (NASDAQ LPTH) opened at 2.74 on Wednesday. LightPath Technologies has a 52-week low of $1.21 and a 52-week high of $3.33. The firm’s 50-day moving average price is $2.62 and its 200-day moving average price is $2.70. The stock has a market cap of $66.44 million, a P/E ratio of 7.61 and a beta of -0.58.
LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, September 14th. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.04 by $0.20. LightPath Technologies had a net margin of 27.16% and a return on equity of 37.81%. The business had revenue of $9.01 million during the quarter, compared to the consensus estimate of $8.75 million. Equities analysts predict that LightPath Technologies will post $0.16 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of LightPath Technologies by 191.5% during the 1st quarter. Wellington Management Group LLP now owns 1,386,900 shares of the technology company’s stock valued at $3,800,000 after purchasing an additional 911,200 shares during the last quarter. Manatuck Hill Partners LLC boosted its holdings in shares of LightPath Technologies by 2.3% during the 2nd quarter. Manatuck Hill Partners LLC now owns 1,125,000 shares of the technology company’s stock valued at $3,038,000 after purchasing an additional 25,000 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of LightPath Technologies by 53.0% during the 2nd quarter. Royce & Associates LP now owns 1,032,600 shares of the technology company’s stock valued at $2,788,000 after purchasing an additional 357,600 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of LightPath Technologies by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after purchasing an additional 114,279 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of LightPath Technologies by 1,332.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 311,047 shares of the technology company’s stock valued at $840,000 after purchasing an additional 289,330 shares during the last quarter. 30.81% of the stock is owned by institutional investors and hedge funds.
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.
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