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

Key Points

• LightPath Technologies' share price surpassed its 200-day moving average of $2.66, reaching a high of $3.69 before last trading at $3.65.
• Analyst ratings show a consensus rating of "Moderate Buy" from several firms, with target prices ranging from $4.88 to $5.50.
• Despite reporting a revenue of $9.17 million, LightPath missed EPS estimates, posting a loss of ($0.10) compared to the expected ($0.05).

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.66 and traded as high as $3.69. LightPath Technologies shares last traded at $3.65, with a volume of 309,270 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and issued a $5.00 target price on shares of LightPath Technologies in a research note on Monday, May 19th. Craig Hallum initiated coverage on shares of LightPath Technologies in a report on Monday, April 28th. They set a "buy" rating and a $5.50 price objective for the company. Zacks Research raised shares of LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.88.

LightPath Technologies Price Performance

The company has a current ratio of 2.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33. The business's 50-day simple moving average is $3.25 and its 200 day simple moving average is $2.68. The company has a market capitalization of $168.47 million, a P/E ratio of -14.58 and a beta of 0.82.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. Ironwood Investment Counsel LLC increased its position 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 worth $65,000 after acquiring an additional 4,150 shares in the last quarter. Wealth Effects LLC lifted its stake in LightPath Technologies by 5.8% in the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company's stock valued at $419,000 after acquiring an additional 7,500 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in LightPath Technologies in the fourth quarter valued at approximately $32,000. Northern Trust Corp lifted its stake 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, Millennium Management LLC acquired a new stake in shares of LightPath Technologies in the fourth quarter worth $53,000. 56.29% of the stock is currently owned by institutional investors.

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.