LightPath Technologies (NASDAQ:LPTH) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

LightPath Technologies (NASDAQ:LPTHGet Rating) released its earnings results on Wednesday. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Fidelity Earnings reports. LightPath Technologies had a negative return on equity of 10.97% and a negative net margin of 9.96%. During the same period last year, the company earned ($0.11) EPS.

LightPath Technologies Stock Down 16.2 %

Shares of NASDAQ LPTH opened at $1.29 on Friday. The company has a fifty day moving average price of $1.57 and a 200 day moving average price of $1.64. The company has a quick ratio of 1.47, a current ratio of 2.51 and a debt-to-equity ratio of 0.11. LightPath Technologies has a 1-year low of $1.07 and a 1-year high of $2.87.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of LightPath Technologies in a research note on Thursday. They set a “hold” rating for the company.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC lifted its stake in LightPath Technologies by 62.0% in the 1st quarter. Worth Venture Partners LLC now owns 509,425 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 195,018 shares during the last quarter. Renaissance Technologies LLC raised its stake in LightPath Technologies by 4.1% during the second quarter. Renaissance Technologies LLC now owns 812,400 shares of the technology company’s stock worth $999,000 after buying an additional 31,930 shares during the last quarter. Citadel Advisors LLC raised its stake in LightPath Technologies by 73.5% during the second quarter. Citadel Advisors LLC now owns 90,446 shares of the technology company’s stock worth $112,000 after buying an additional 38,316 shares during the last quarter. State Street Corp grew its holdings in LightPath Technologies by 18.5% in the first quarter. State Street Corp now owns 50,834 shares of the technology company’s stock worth $100,000 after purchasing an additional 7,925 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of LightPath Technologies during the first quarter valued at about $36,000. 28.91% of the stock is owned by institutional investors.

About LightPath Technologies

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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. Its products are used in defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.

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Earnings History for LightPath Technologies (NASDAQ:LPTH)

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