LightPath Technologies (NASDAQ:LPTH) Announces Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• LightPath Technologies reported an EPS of ($0.07) for the quarter, missing estimates by ($0.04) according to analysts' consensus.
• The company's stock fell $0.36 to $6.50 during trading, with a significantly higher volume than its average.
• Four analysts currently rate LightPath Technologies as a Buy, with a consensus target price of $5.38.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) posted its quarterly earnings data on Thursday. The technology company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04), Zacks reports. LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH traded down $0.36 during mid-day trading on Thursday, reaching $6.50. The company's stock had a trading volume of 2,375,557 shares, compared to its average volume of 445,482. The firm has a market capitalization of $288.93 million, a PE ratio of -25.00 and a beta of 1.10. 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 stock has a fifty day moving average of $4.52 and a two-hundred day moving average of $3.19. LightPath Technologies has a 52 week low of $1.29 and a 52 week high of $7.48.

Analyst Ratings Changes

A number of analysts have commented on LPTH shares. Zacks Research upgraded LightPath Technologies to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, HC Wainwright upped their price target on LightPath Technologies from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $5.38.

Hedge Funds Weigh In On LightPath Technologies

An institutional investor recently raised its position in LightPath Technologies stock. Jane Street Group LLC boosted its position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 92.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,612 shares of the technology company's stock after buying an additional 29,054 shares during the period. Jane Street Group LLC owned approximately 0.14% of LightPath Technologies worth $122,000 as of its most recent SEC filing. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Company 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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