LightPath Technologies (NASDAQ:LPTH) Upgraded by Wall Street Zen to Hold Rating

LightPath Technologies (NASDAQ:LPTH - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

LPTH has been the subject of a number of other reports. Craig Hallum assumed coverage on LightPath Technologies in a research report on Monday, April 28th. They set a "buy" rating and a $5.50 price objective for the company. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of LightPath Technologies in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

LightPath Technologies Trading Up 1.7%

NASDAQ LPTH traded up $0.05 on Friday, hitting $2.99. The company's stock had a trading volume of 74,736 shares, compared to its average volume of 169,161. 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 has a 1-year low of $1.04 and a 1-year high of $4.42. The company's 50-day moving average is $2.29 and its 200 day moving average is $2.50. The firm has a market cap of $132.91 million, a PE ratio of -12.46 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LPTH. Connective Capital Management LLC bought a new stake in shares of LightPath Technologies during the 4th quarter valued at about $733,000. EAM Investors LLC acquired a new position in LightPath Technologies in the fourth quarter valued at approximately $1,102,000. Northern Trust Corp lifted its stake in LightPath Technologies by 25.7% in the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after buying an additional 13,087 shares during the period. Geode Capital Management LLC boosted its holdings in shares of LightPath Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 389,619 shares of the technology company's stock worth $1,376,000 after buying an additional 50,767 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of LightPath Technologies during the 4th quarter worth approximately $32,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.