LightPath Technologies (NASDAQ:LPTH) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of LightPath Technologies (NASDAQ:LPTH - Free Report) from a hold rating to a sell rating in a research report released on Thursday morning.

A number of other equities research analysts also recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of LightPath Technologies in a research report on Monday, May 19th. Craig Hallum initiated coverage on shares of LightPath Technologies in a research report on Monday, April 28th. They issued a "buy" rating and a $5.50 target price for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, LightPath Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH traded down $0.03 during trading on Thursday, reaching $2.34. 61,191 shares of the company's stock traded hands, compared to its average volume of 164,128. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 0.90. LightPath Technologies has a 12 month low of $1.04 and a 12 month high of $4.42. The company has a 50 day moving average of $2.16 and a 200-day moving average of $2.43. The stock has a market capitalization of $100.21 million, a P/E ratio of -9.73 and a beta of 0.84.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. The business had revenue of $9.17 million for the quarter, compared to the consensus estimate of $8.78 million. During the same period in the prior year, the company earned ($0.07) EPS. On average, equities analysts expect that LightPath Technologies will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP grew its position in LightPath Technologies by 4.7% in the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock worth $2,602,000 after purchasing an additional 58,194 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $1,376,000 after acquiring an additional 50,767 shares in the last quarter. EAM Investors LLC bought a new position in shares of LightPath Technologies in the fourth quarter valued at approximately $1,102,000. Connective Capital Management LLC bought a new position in shares of LightPath Technologies in the fourth quarter valued at approximately $733,000. Finally, Wealth Effects LLC boosted its holdings in shares of 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 acquiring an additional 82,000 shares in the last quarter. 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.