LightPath Technologies (NASDAQ:LPTH) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• LightPath Technologies shares have recently crossed above their 200-day moving average, reaching a high of $3.62 before closing at $3.60.
• Wall Street analysts have a consensus rating of "Moderate Buy" for the stock, with a price target averaging around $4.88, and recent coverage includes buy ratings from several firms.
• In its latest earnings report, LightPath Technologies reported a net revenue of $9.17 million but posted a loss of ($0.10) EPS, missing the consensus estimate by $0.05.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.64 and traded as high as $3.62. LightPath Technologies shares last traded at $3.60, with a volume of 267,014 shares.

Wall Street Analyst Weigh In

LPTH has been the subject of several recent research reports. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Craig Hallum assumed 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, HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of LightPath Technologies in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $4.88.

LightPath Technologies Stock Performance

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 market capitalization of $159.80 million, a P/E ratio of -13.83 and a beta of 0.82. The company has a fifty day moving average of $3.12 and a two-hundred day moving average of $2.64.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $8.78 million. LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%. During the same period last year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that LightPath Technologies, Inc. will post -0.18 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of LightPath Technologies during the 4th quarter valued at $32,000. Millennium Management LLC bought a new stake in LightPath Technologies during the fourth quarter valued at about $53,000. Price T Rowe Associates Inc. MD boosted its holdings in LightPath Technologies by 101.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,800 shares of the technology company's stock valued at $109,000 after acquiring an additional 15,500 shares during the period. Jane Street Group LLC bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $111,000. Finally, Ironwood Investment Counsel LLC lifted its stake in shares of LightPath Technologies by 14.8% in the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock valued at $65,000 after buying an additional 4,150 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.