Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Grows By 58.6%

Key Points

• Short interest in LightPath Technologies surged by 58.6% in September, with 995,600 shares shorted as of September 30th.
• Analysts have mixed views on the stock, with ratings ranging from "buy" to "sell," leading to a consensus rating of "Moderate Buy" and a price target of $6.50.
• LightPath reported a quarterly earnings loss of ($0.07) per share, falling short of analyst expectations of ($0.03) while generating $12.21 million in revenue.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 995,600 shares, an increase of 58.6% from the September 15th total of 627,800 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is currently 0.9 days. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of LightPath Technologies to a "hold" rating in a research note on Tuesday, August 12th. Lake Street Capital increased their price target on shares of LightPath Technologies from $4.00 to $7.50 and gave the stock a "buy" rating in a research note on Friday, September 26th. HC Wainwright increased their price target on shares of LightPath Technologies from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LightPath Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH traded down $0.95 on Wednesday, reaching $7.35. 2,793,512 shares of the company were exchanged, compared to its average volume of 633,659. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. LightPath Technologies has a 1-year low of $1.40 and a 1-year high of $10.69. The firm has a market cap of $328.32 million, a price-to-earnings ratio of -20.42 and a beta of 1.18. The company has a 50-day moving average of $6.44 and a 200-day moving average of $4.02.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its quarterly earnings results on Thursday, September 25th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $12.21 million for the quarter, compared to analyst estimates of $12.20 million. LightPath Technologies had a negative return on equity of 53.40% and a negative net margin of 39.92%.During the same period last year, the company earned ($0.06) earnings per share. Equities analysts forecast that LightPath Technologies will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently modified their holdings of the company. Marathon Capital Management acquired a new stake in LightPath Technologies in the second quarter valued at approximately $54,000. Ironwood Investment Counsel LLC grew its position in LightPath Technologies by 14.8% in the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock valued at $65,000 after acquiring an additional 4,150 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of LightPath Technologies during the second quarter worth approximately $79,000. Jane Street Group LLC grew its position in shares of LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock worth $122,000 after buying an additional 29,054 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of LightPath Technologies during the second quarter worth approximately $134,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.

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