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

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.35 and traded as high as $2.45. LightPath Technologies shares last traded at $2.42, with a volume of 93,955 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Craig Hallum started coverage on LightPath Technologies in a research note on Monday, April 28th. They issued a "buy" rating and a $5.50 price target on the stock. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of LightPath Technologies in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.88.

LightPath Technologies Stock Down 2.2%

The stock has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.37. The stock has a market capitalization of $114.11 million, a price-to-earnings ratio of -11.08 and a beta of 0.84. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.03.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). LightPath Technologies had a negative return on equity of 31.13% and a negative net margin of 28.57%. The business had revenue of $7.43 million during the quarter, compared to the consensus estimate of $8.28 million. As a group, analysts forecast that LightPath Technologies, Inc. will post -0.18 EPS for the current year.

Institutional Trading of LightPath Technologies

Several hedge funds have recently made changes to their positions in LPTH. EAM Investors LLC bought a new stake in shares of LightPath Technologies during the 4th quarter valued at $1,102,000. Connective Capital Management LLC purchased a new position in shares of LightPath Technologies in the 4th quarter worth about $733,000. Essex Investment Management Co. LLC purchased a new position in shares of LightPath Technologies in the 4th quarter worth about $338,000. Wealth Effects LLC boosted its holdings in shares of LightPath Technologies by 176.3% in the 1st quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock worth $258,000 after purchasing an additional 82,000 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in LightPath Technologies by 4.7% during the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock valued at $2,602,000 after acquiring an additional 58,194 shares during the period. 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.