LightPath Technologies (NASDAQ:LPTH) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.20 and traded as high as $2.40. LightPath Technologies shares last traded at $2.21, with a volume of 115,476 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. LADENBURG THALM/SH SH increased their price target on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. StockNews.com lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of LightPath Technologies in a research report on Thursday, February 27th. Finally, Lake Street Capital raised their price objective on LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, December 27th.

LightPath Technologies Price Performance

The firm’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.21. The firm has a market capitalization of $83.53 million, a PE ratio of -8.67 and a beta of 1.67. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On LightPath Technologies

Several large investors have recently bought and sold shares of LPTH. Geode Capital Management LLC boosted its holdings in shares of LightPath Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 389,619 shares of the technology company’s stock valued at $1,376,000 after acquiring an additional 50,767 shares during the last quarter. EAM Investors LLC purchased a new stake in LightPath Technologies in the fourth quarter worth approximately $1,102,000. Connective Capital Management LLC bought a new stake in LightPath Technologies in the 4th quarter worth approximately $733,000. Essex Investment Management Co. LLC purchased a new stake in LightPath Technologies during the 4th quarter valued at $338,000. Finally, Northern Trust Corp lifted its holdings in shares of LightPath Technologies by 25.7% during the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company’s stock valued at $226,000 after buying an additional 13,087 shares during the period. 56.29% of the stock is currently owned by institutional investors.

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.