LightPath Technologies, Inc. (NASDAQ:LPTH) Position Increased by Wealth Effects LLC

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC acquired a new position in shares of LightPath Technologies in the fourth quarter worth $53,000. Connective Capital Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $733,000. Northern Trust Corp raised its stake in LightPath Technologies by 25.7% in the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after purchasing an additional 13,087 shares during the last quarter. EAM Investors LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $1,102,000. Finally, Jane Street Group LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $111,000. Institutional investors and hedge funds own 56.29% of the company's stock.

LightPath Technologies Trading Down 3.5%

LPTH traded down $0.11 during midday trading on Friday, hitting $3.03. The company's stock had a trading volume of 71,048 shares, compared to its average volume of 178,563. The company has a current ratio of 2.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33. The firm has a market cap of $134.68 million, a P/E ratio of -11.65 and a beta of 0.91. The firm has a 50-day moving average price of $2.63 and a two-hundred day moving average price of $2.64. LightPath Technologies, Inc. has a 52-week low of $1.04 and a 52-week high of $4.42.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on LPTH shares. HC Wainwright reiterated a "buy" rating and set a $5.00 price target on shares of LightPath Technologies in a report on Monday, May 19th. Craig Hallum began coverage on shares of LightPath Technologies in a research note on Monday, April 28th. They issued a "buy" rating and a $5.50 target price for the company. Finally, Wall Street Zen raised shares of LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, LightPath Technologies has an average rating of "Moderate Buy" and an average target price of $4.88.

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.