LightPath Technologies (NASDAQ:LPTH) Stock Rating Upgraded by 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.

Zacks Research upgraded shares of LightPath Technologies (NASDAQ:LPTH - Free Report) to a hold rating in a research report released on Tuesday, August 12th,Zacks.com reports.

LPTH has been the subject of several other reports. HC Wainwright restated a "buy" rating and set a $5.00 price objective 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 report on Saturday, June 14th. Finally, Craig Hallum started coverage on LightPath Technologies in a report on Monday, April 28th. They issued a "buy" rating and a $5.50 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, LightPath Technologies currently has an average rating of "Moderate Buy" and an average target price of $4.88.

LightPath Technologies Stock Performance

Shares of LPTH traded down $0.13 during trading hours on Tuesday, hitting $3.46. The company had a trading volume of 114,646 shares, compared to its average volume of 231,929. The business has a fifty day moving average of $3.22 and a 200-day moving average of $2.67. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33. The firm has a market cap of $153.80 million, a price-to-earnings ratio of -13.30 and a beta of 0.82. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $4.42.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in shares of LightPath Technologies in the 4th quarter valued at $53,000. Wealth Effects LLC lifted its position in shares of LightPath Technologies by 176.3% during the 1st quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock worth $258,000 after buying an additional 82,000 shares during the last quarter. Connective Capital Management LLC acquired a new stake in LightPath Technologies in the fourth quarter valued at about $733,000. Northern Trust Corp grew its position in LightPath Technologies by 25.7% in the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after acquiring an additional 13,087 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in LightPath Technologies in the fourth quarter valued at about $111,000. 56.29% of the stock is currently 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.