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

LightPath Technologies logo with Computer and Technology background

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.

Read Our Latest Analysis on LPTH

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

(Get Free Report)

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.

Further Reading

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