LightPath Technologies (NASDAQ:LPTH) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of LightPath Technologies (NASDAQ:LPTH) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “

Several other equities analysts have also commented on LPTH. HC Wainwright began coverage on LightPath Technologies in a research note on Monday, March 1st. They set a buy rating and a $5.50 price target on the stock. B. Riley raised their price objective on LightPath Technologies from $3.75 to $4.50 and gave the company a buy rating in a research report on Friday, January 29th. Finally, Alliance Global Partners raised their price objective on LightPath Technologies from $4.00 to $5.50 and gave the company a buy rating in a research report on Friday, January 22nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $5.17.

LPTH stock opened at $3.06 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 2.95 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $3.52 and its two-hundred day simple moving average is $3.28. LightPath Technologies has a twelve month low of $1.01 and a twelve month high of $5.45. The firm has a market cap of $79.98 million, a price-to-earnings ratio of 38.25 and a beta of 1.44.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Wednesday, February 3rd. The technology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $9.92 million during the quarter, compared to analysts’ expectations of $9.35 million. LightPath Technologies had a return on equity of 7.46% and a net margin of 6.33%. Research analysts expect that LightPath Technologies will post 0.07 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new stake in LightPath Technologies in the fourth quarter worth about $75,000. Dimensional Fund Advisors LP lifted its holdings in shares of LightPath Technologies by 81.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 80,317 shares of the technology company’s stock worth $315,000 after purchasing an additional 35,976 shares during the period. Virtu Financial LLC acquired a new stake in shares of LightPath Technologies during the fourth quarter worth about $64,000. Worth Venture Partners LLC acquired a new stake in shares of LightPath Technologies during the fourth quarter worth about $1,842,000. Finally, LPL Financial LLC purchased a new position in LightPath Technologies during the fourth quarter valued at approximately $69,000. 24.27% 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. Its products are used in defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.

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