LightPath Technologies (NASDAQ:LPTH) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• LightPath Technologies shares surpassed their 200-day moving average of $3.75, trading as high as $9.03 and closing at $8.90 with significant trading volume.
• Analysts have mixed ratings for the stock, with HC Wainwright upgrading its target price to $8.00, while other firms like Weiss Ratings and Wall Street Zen have issued "sell" ratings.
• In its latest financial report, LightPath Technologies posted a loss of ($0.07) earnings per share, missing expectations, while its revenue came in at $12.21 million, slightly surpassing analyst predictions.

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.75 and traded as high as $9.03. LightPath Technologies shares last traded at $8.90, with a volume of 2,147,099 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LPTH shares. HC Wainwright increased their target price on shares of LightPath Technologies from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Lake Street Capital increased their target price on shares of LightPath Technologies from $4.00 to $7.50 and gave the company a "buy" rating in a report on Friday, September 26th. Finally, Zacks Research upgraded shares of LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

LightPath Technologies Price Performance

The business's fifty day moving average is $5.83 and its 200-day moving average is $3.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.66 and a quick ratio of 0.91. The firm has a market cap of $397.56 million, a PE ratio of -24.72 and a beta of 1.18.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $12.21 million for the quarter, compared to analysts' expectations of $12.20 million. LightPath Technologies had a negative return on equity of 53.40% and a negative net margin of 39.92%.During the same quarter last year, the business posted ($0.06) EPS. On average, research analysts predict that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Several large investors have recently modified their holdings of LPTH. Ironwood Investment Counsel LLC boosted 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 during the period. Wealth Effects LLC boosted its position in shares of 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 period. Marathon Capital Management bought a new position in shares of LightPath Technologies in the second quarter valued at approximately $54,000. J.W. Cole Advisors Inc. bought a new position in shares of LightPath Technologies in the second quarter valued at approximately $79,000. Finally, Jane Street Group LLC boosted its position in shares of LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock valued at $122,000 after acquiring an additional 29,054 shares during the period. Hedge funds and other 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.

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