LightPath Technologies (NASDAQ:LPTH) Receives Buy Rating from HC Wainwright

LightPath Technologies (NASDAQ:LPTH)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $3.00 price target on the technology company’s stock. HC Wainwright’s price target indicates a potential upside of 123.88% from the stock’s previous close.

Several other research firms also recently commented on LPTH. StockNews.com started coverage on shares of LightPath Technologies in a report on Tuesday. They issued a “hold” rating on the stock. Lake Street Capital initiated coverage on shares of LightPath Technologies in a report on Thursday, January 18th. They issued a “buy” rating and a $3.00 price target on the stock.

LightPath Technologies Trading Down 3.6 %

LightPath Technologies stock opened at $1.34 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.16 and a current ratio of 1.93. The stock has a 50-day simple moving average of $1.46 and a 200 day simple moving average of $1.41. The stock has a market capitalization of $50.95 million, a P/E ratio of -9.57 and a beta of 1.41. LightPath Technologies has a 52 week low of $1.12 and a 52 week high of $2.00.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, February 8th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). LightPath Technologies had a negative return on equity of 14.22% and a negative net margin of 15.48%. The business had revenue of $7.32 million for the quarter, compared to analyst estimates of $8.72 million. Analysts expect that LightPath Technologies will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in LPTH. Commonwealth Equity Services LLC acquired a new position in LightPath Technologies in the 3rd quarter worth about $50,000. Murphy Pohlad Asset Management LLC increased its stake in shares of LightPath Technologies by 240.7% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 46,000 shares of the technology company’s stock valued at $58,000 after buying an additional 32,500 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in LightPath Technologies in the 3rd quarter valued at approximately $93,000. Worth Venture Partners LLC boosted its position in LightPath Technologies by 9.9% during the 3rd quarter. Worth Venture Partners LLC now owns 929,611 shares of the technology company’s stock worth $1,348,000 after buying an additional 83,649 shares during the period. Finally, AMH Equity Ltd grew its holdings in LightPath Technologies by 12.4% during the 4th quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock worth $3,552,000 after acquiring an additional 310,870 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.