Wealth Effects LLC Boosts Stock Position in LightPath Technologies, Inc. (NASDAQ:LPTH)

Wealth Effects LLC lifted its position in LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 176.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,500 shares of the technology company's stock after purchasing an additional 82,000 shares during the quarter. Wealth Effects LLC owned about 0.32% of LightPath Technologies worth $258,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Connective Capital Management LLC purchased a new position in shares of LightPath Technologies in the fourth quarter worth about $733,000. Millennium Management LLC purchased a new position in shares of LightPath Technologies in the fourth quarter worth about $53,000. Cubist Systematic Strategies LLC purchased a new position in shares of LightPath Technologies in the fourth quarter worth about $32,000. Jane Street Group LLC purchased a new position in shares of LightPath Technologies in the fourth quarter worth about $111,000. Finally, Northern Trust Corp raised its stake in shares of LightPath Technologies by 25.7% in the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock worth $226,000 after purchasing an additional 13,087 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Stock Performance

LPTH stock traded down $0.11 during trading on Friday, hitting $3.03. 71,048 shares of the company traded hands, compared to its average volume of 178,563. The stock's 50-day simple moving average is $2.63 and its 200 day simple moving average is $2.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.30 and a quick ratio of 1.26. The company has a market cap of $134.68 million, a PE ratio of -11.65 and a beta of 0.91. LightPath Technologies, Inc. has a 1 year low of $1.04 and a 1 year high of $4.42.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $9.17 million for the quarter, compared to analysts' expectations of $8.78 million. LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%. During the same quarter in the prior year, the business posted ($0.07) earnings per share. On average, equities analysts expect that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LPTH shares. HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of LightPath Technologies in a research note on Monday, May 19th. Wall Street Zen upgraded LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Craig Hallum began coverage on LightPath Technologies in a research report on Monday, April 28th. They set a "buy" rating and a $5.50 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, LightPath Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $4.88.

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.