LightPath Technologies, Inc. $LPTH Stake Lowered by AIGH Capital Management LLC

Key Points

• AIGH Capital Management LLC has reduced its stake in LightPath Technologies, Inc. by 1.1%, now holding approximately 3.64 million shares, which accounts for about 5.0% of its investment portfolio.
• LightPath Technologies has received various ratings from analysts, with HC Wainwright and Lake Street Capital both assigning "buy" ratings and raising their target prices significantly.
• The company reported a disappointing quarterly earnings, with an EPS of ($0.07), missing the consensus estimate, while revenue was slightly above expectations at $12.21 million.

AIGH Capital Management LLC lessened its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,642,377 shares of the technology company's stock after selling 40,555 shares during the period. LightPath Technologies accounts for approximately 5.0% of AIGH Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. AIGH Capital Management LLC owned approximately 8.19% of LightPath Technologies worth $11,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPTH. Ironwood Investment Counsel LLC raised its holdings in LightPath Technologies by 14.8% during the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock worth $65,000 after purchasing an additional 4,150 shares in the last quarter. Wealth Effects LLC lifted its position in LightPath Technologies by 5.8% in the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company's stock valued at $419,000 after acquiring an additional 7,500 shares during the last quarter. Jane Street Group LLC boosted its stake in LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock valued at $122,000 after acquiring an additional 29,054 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of LightPath Technologies by 4.7% during the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock worth $2,602,000 after purchasing an additional 58,194 shares during the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LPTH has been the subject of several research reports. HC Wainwright boosted their target price on LightPath Technologies from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, September 26th. Lake Street Capital increased their price objective on LightPath Technologies from $4.00 to $7.50 and gave the company a "buy" rating in a report on Friday, September 26th. Zacks Research raised shares of LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LightPath Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

LightPath Technologies Stock Performance

Shares of LPTH opened at $7.44 on Monday. The stock has a market capitalization of $332.34 million, a P/E ratio of -20.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.66. LightPath Technologies, Inc. has a 1 year low of $1.40 and a 1 year high of $10.69. The company's fifty day moving average is $6.25 and its two-hundred day moving average is $3.95.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its earnings results on Thursday, September 25th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). LightPath Technologies had a negative net margin of 39.92% and a negative return on equity of 53.40%. The firm had revenue of $12.21 million during the quarter, compared to analysts' expectations of $12.20 million. During the same period in the previous year, the firm earned ($0.06) EPS. On average, sell-side analysts predict that LightPath Technologies, Inc. will post -0.18 earnings per share for the current year.

LightPath Technologies Profile

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.

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