LightPath Technologies (NASDAQ:LPTH) Stock Price Passes Above 200-Day Moving Average - Here's Why

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.67 and traded as high as $3.28. LightPath Technologies shares last traded at $3.24, with a volume of 253,675 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LPTH shares. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of LightPath Technologies in a report on Monday, May 19th. Finally, Craig Hallum assumed coverage on LightPath Technologies in a report on Monday, April 28th. They set a "buy" rating and a $5.50 target price on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Stock Down 0.6%

The stock has a market capitalization of $146.24 million, a PE ratio of -12.65 and a beta of 0.90. 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 business's fifty day moving average price is $2.80 and its two-hundred day moving average price is $2.66.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its 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 firm had revenue of $9.17 million for the quarter, compared to analysts' expectations of $8.78 million. LightPath Technologies had a negative return on equity of 41.68% and a negative net margin of 30.18%. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, equities research analysts forecast that LightPath Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of LightPath Technologies by 4.7% during the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock worth $2,602,000 after buying an additional 58,194 shares during the period. Geode Capital Management LLC lifted its stake in shares of LightPath Technologies by 15.0% in the 4th 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 acquired a new position in shares of LightPath Technologies during the fourth quarter worth about $1,102,000. Connective Capital Management LLC purchased a new position in LightPath Technologies during the fourth quarter worth about $733,000. Finally, Wealth Effects LLC lifted its position in LightPath Technologies by 176.3% in the first 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 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.