LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Down 22.0% in February

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 338,000 shares, a drop of 22.0% from the February 13th total of 433,100 shares. Based on an average trading volume of 409,100 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LPTH. StockNews.com downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. LADENBURG THALM/SH SH lifted their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of LightPath Technologies in a report on Thursday, February 27th. Finally, Lake Street Capital boosted their target price on shares of LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a report on Friday, December 27th.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock traded up $0.02 during trading on Wednesday, hitting $2.23. 59,544 shares of the stock were exchanged, compared to its average volume of 152,744. The stock’s fifty day moving average is $2.78 and its 200 day moving average is $2.18. The stock has a market cap of $89.56 million, a PE ratio of -9.29 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 1.53. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $4.42.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $7.43 million during the quarter, compared to analyst estimates of $8.28 million. LightPath Technologies had a negative return on equity of 31.13% and a negative net margin of 28.57%. As a group, sell-side analysts anticipate that LightPath Technologies will post -0.18 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at about $32,000. Millennium Management LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at about $53,000. Legato Capital Management LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at about $83,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies in the 4th quarter valued at about $87,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.