LightPath Technologies (NASDAQ:LPTH) Share Price Passes Above 200 Day Moving Average - Here's What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.61 and traded as high as $3.28. LightPath Technologies shares last traded at $2.98, with a volume of 257,598 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented 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. Craig Hallum began 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. Finally, HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of LightPath Technologies in a report on Monday, May 19th. One equities research 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 company presently has an average rating of "Moderate Buy" and an average price target of $4.88.

LightPath Technologies Trading Down 3.5%

The company has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.62. The stock has a market cap of $134.69 million, a price-to-earnings ratio of -11.65 and a beta of 0.91. The company has a current ratio of 2.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%. The firm had revenue of $9.17 million during the quarter, compared to analysts' expectations of $8.78 million. During the same quarter last year, the company posted ($0.07) EPS. On average, research analysts forecast that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ironwood Investment Counsel LLC lifted its stake in LightPath Technologies by 14.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock worth $65,000 after acquiring an additional 4,150 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of LightPath Technologies in the fourth quarter worth $32,000. Northern Trust Corp boosted its holdings in shares of LightPath Technologies by 25.7% during the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock worth $226,000 after buying an additional 13,087 shares during the period. Millennium Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at $53,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in LightPath Technologies by 101.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,800 shares of the technology company's stock worth $109,000 after acquiring an additional 15,500 shares during the period. Hedge funds and other institutional investors own 56.29% of the company's stock.

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.