LightPath Technologies (NASDAQ:LPTH) Rating Lowered to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of LightPath Technologies (NASDAQ:LPTH - Free Report) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other research firms have also commented on LPTH. Craig Hallum initiated coverage on shares of LightPath Technologies in a research note on Monday, April 28th. They issued a "buy" rating and a $5.50 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of LightPath Technologies in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Stock Down 0.4%

LPTH stock traded down $0.01 during trading on Thursday, reaching $2.37. The stock had a trading volume of 40,391 shares, compared to its average volume of 164,534. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $101.67 million, a price-to-earnings ratio of -9.87 and a beta of 0.84. LightPath Technologies has a one year low of $1.04 and a one year high of $4.42. The company's 50 day moving average is $2.16 and its two-hundred day moving average is $2.42.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $9.17 million during the quarter, compared to analysts' expectations 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 business posted ($0.07) EPS. Equities research analysts forecast that LightPath Technologies will post -0.18 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock valued at $122,000 after purchasing an additional 29,054 shares during the period. Ironwood Investment Counsel LLC boosted its holdings 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 buying an additional 4,150 shares during the period. Royce & Associates LP boosted its holdings 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 buying an additional 58,194 shares during the period. Wealth Effects LLC boosted its holdings in 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 buying an additional 82,000 shares during the period. Finally, Connective Capital Management LLC bought a new position in LightPath Technologies in the 4th quarter worth approximately $733,000. 56.29% of the stock is owned by 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.