LightPath Technologies (NASDAQ:LPTH) Shares Pass Above 200-Day Moving Average - Time to Sell?

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).

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s share price 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.

Analyst Ratings Changes

LPTH has been the topic of a number of analyst reports. Zacks Research upgraded LightPath Technologies to a "hold" rating in a research note on Tuesday. Craig Hallum assumed coverage on LightPath Technologies in a research report on Monday, April 28th. They set a "buy" rating and a $5.50 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $5.00 target price on shares of LightPath Technologies in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, LightPath Technologies has a consensus rating of "Moderate Buy" and an average price target of $4.88.

LightPath Technologies Stock Performance

The stock has a 50-day simple moving average of $3.19 and a 200 day simple moving average of $2.66. 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 company has a market capitalization of $162.24 million, a PE ratio of -14.04 and a beta of 0.82.

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 analysts' consensus estimates of ($0.05) by ($0.05). LightPath Technologies had a negative return on equity of 41.68% and a negative net margin of 30.18%. The firm had revenue of $9.17 million for the quarter, compared to analysts' expectations of $8.78 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Equities analysts anticipate that LightPath Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of LightPath Technologies

Several institutional investors and hedge funds have recently made changes to their positions in LPTH. Cubist Systematic Strategies LLC purchased a new stake in shares of LightPath Technologies in the fourth quarter valued at $32,000. Millennium Management LLC purchased a new stake in shares of LightPath Technologies in the fourth quarter valued at $53,000. Marathon Capital Management purchased a new stake in shares of LightPath Technologies in the second quarter valued at $54,000. Ironwood Investment Counsel LLC lifted 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 valued at $65,000 after acquiring an additional 4,150 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of LightPath Technologies in the second quarter valued at $79,000. 56.29% of the stock is currently owned by hedge funds and other 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.

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