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

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.43 and traded as high as $2.58. LightPath Technologies shares last traded at $2.56, with a volume of 257,609 shares.

Analysts Set New Price Targets

LPTH has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and issued a $5.00 price objective on shares of LightPath Technologies in a research note on Monday, May 19th. Finally, Craig Hallum started coverage on shares of LightPath Technologies in a research note on Monday, April 28th. They set a "buy" rating and a $5.50 target price on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, LightPath Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Stock Performance

The company has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 0.90. The company has a market capitalization of $133.80 million, a P/E ratio of -12.54 and a beta of 0.84.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $9.17 million during the quarter, compared to analyst estimates of $8.78 million. LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. During the same quarter last year, the company posted ($0.07) earnings per share. Equities analysts forecast that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LPTH. Royce & Associates LP grew its position in shares of LightPath Technologies by 4.7% in the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock valued at $2,602,000 after buying an additional 58,194 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of LightPath Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 389,619 shares of the technology company's stock worth $1,376,000 after acquiring an additional 50,767 shares during the period. EAM Investors LLC bought a new stake in LightPath Technologies in the fourth quarter valued at approximately $1,102,000. Connective Capital Management LLC acquired a new stake in LightPath Technologies during the 4th quarter valued at approximately $733,000. Finally, Wealth Effects LLC increased its position in LightPath Technologies by 176.3% during the 1st quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock valued at $258,000 after purchasing an additional 82,000 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.