LightPath Technologies (NASDAQ:LPTH) Shares Cross Above Two Hundred Day Moving Average - Here's Why

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.66 and traded as high as $3.10. LightPath Technologies shares last traded at $3.08, with a volume of 50,820 shares.

Analyst Upgrades and Downgrades

LPTH has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of LightPath Technologies in a research note on Monday, May 19th. Craig Hallum initiated coverage on LightPath Technologies in a report on Monday, April 28th. They issued a "buy" rating and a $5.50 target price on the stock. Finally, Wall Street Zen upgraded shares of LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.88.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 2.30. The stock's 50-day moving average is $2.75 and its 200 day moving average is $2.67. The firm has a market cap of $131.13 million, a P/E ratio of -11.35 and a beta of 0.90.

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

Institutional Trading of LightPath Technologies

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of LightPath Technologies in the 4th quarter valued at $32,000. Millennium Management LLC acquired a new position in LightPath Technologies in the 4th quarter worth $53,000. Ironwood Investment Counsel LLC boosted its stake in LightPath Technologies by 14.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock worth $65,000 after purchasing an additional 4,150 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in LightPath Technologies by 101.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,800 shares of the technology company's stock worth $109,000 after purchasing an additional 15,500 shares during the period. Finally, Jane Street Group LLC acquired a new position in LightPath Technologies in the 4th quarter worth $111,000. Institutional investors own 56.29% of the company's stock.

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.