LightPath Technologies (NASDAQ:LPTH) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded LightPath Technologies from “sell” to “hold.” Across analysts, the consensus rating is “Moderate Buy,” with an average price target of $14.38, though Piper Sandler and Canaccord recently lowered their targets.
• Shares were down 5.1%; they opened at $6.84, below their 50-day moving average of $8.87 and 200-day average of $11.66.
• In its latest quarter, LightPath reported a loss of $0.02 per share, slightly better than estimates, while revenue of $20.76 million fell short of expectations.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on LPTH. Piper Sandler cut their target price on shares of LightPath Technologies from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, October 23rd. Canaccord Genuity Group dropped their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.38.

LightPath Technologies Stock Down 5.1%

LPTH opened at $6.84 on Friday. The business's fifty day moving average is $8.87 and its two-hundred day moving average is $11.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.27 and a current ratio of 4.84. The company has a market cap of $479.42 million, a price-to-earnings ratio of -19.54 and a beta of 1.53. LightPath Technologies has a one year low of $5.83 and a one year high of $18.94.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. LightPath Technologies had a negative return on equity of 4.92% and a negative net margin of 25.00%. The business had revenue of $20.76 million during the quarter, compared to analysts' expectations of $21.93 million. Analysts anticipate that LightPath Technologies will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPTH. Compass Financial Management LLC purchased a new position in shares of LightPath Technologies during the third quarter valued at approximately $35,000. Allworth Financial LP lifted its stake in shares of LightPath Technologies by 297.3% during the 3rd quarter. Allworth Financial LP now owns 4,009 shares of the technology company's stock worth $41,000 after purchasing an additional 3,000 shares during the period. TD Waterhouse Canada Inc. purchased a new position in shares of LightPath Technologies during the 2nd quarter worth $71,000. Royal Bank of Canada lifted its stake in shares of LightPath Technologies by 707.2% during the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company's stock worth $96,000 after purchasing an additional 8,380 shares during the period. Finally, PVG Asset Management Corp acquired a new stake in shares of LightPath Technologies during the first quarter worth $108,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

About LightPath Technologies

LightPath Technologies, Inc. designs and manufactures optical components and assemblies for commercial and government customers. Its products include precision-molded glass aspheric lenses, infrared optics, and custom optical systems used in applications such as thermal imaging and sensing. The company serves markets including aerospace and defense, industrial, medical, and telecommunications. Its capabilities span optical design, materials development, manufacturing, and assembly, supporting customers from component selection through integrated optical solutions.

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