LightPath Technologies (NASDAQ:LPTH) Raised to "Hold" at Zacks Research

Key Points

• LightPath Technologies has been upgraded to a "hold" rating by Zacks Research, while HC Wainwright maintains a "buy" rating with a price target of $5.00.
• The company reported a quarterly loss of ($0.10) EPS, missing estimates, but exceeded revenue expectations with $9.17 million.
• Institutional investors currently own 56.29% of LightPath Technologies, with significant stake increases from firms like Wealth Effects LLC and Millennium Management LLC.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

LPTH has been the subject of a number of other reports. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price target on shares of LightPath Technologies in a research report on Monday, May 19th. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Craig Hallum assumed 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, LightPath Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock opened at $3.64 on Tuesday. The company has a market cap of $161.80 million, a PE ratio of -14.00 and a beta of 0.82. LightPath Technologies has a 52 week low of $1.04 and a 52 week high of $4.42. The business has a 50 day moving average price of $3.17 and a 200-day moving average price of $2.66. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33.

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

Institutional Investors Weigh In On LightPath Technologies

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in LightPath Technologies during the fourth quarter valued at $53,000. Wealth Effects LLC boosted its stake in LightPath Technologies by 176.3% during the first quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock valued at $258,000 after buying an additional 82,000 shares during the period. Connective Capital Management LLC bought a new stake in LightPath Technologies during the fourth quarter valued at $733,000. Northern Trust Corp boosted its stake in LightPath Technologies by 25.7% during the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after buying an additional 13,087 shares during the period. Finally, Jane Street Group LLC bought a new stake in LightPath Technologies during the fourth quarter valued at $111,000. Institutional investors own 56.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.