LightPath Technologies (NASDAQ:LPTH) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

LightPath Technologies (NASDAQ:LPTH) announced its quarterly earnings results on Wednesday. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09), Fidelity Earnings reports. LightPath Technologies had a net margin of 0.98% and a return on equity of 1.70%. During the same quarter last year, the business posted $0.02 earnings per share.

Shares of LightPath Technologies stock traded down $0.12 during trading hours on Friday, reaching $2.04. 845 shares of the company’s stock were exchanged, compared to its average volume of 1,130,355. The company has a 50 day moving average of $2.21 and a two-hundred day moving average of $2.66. LightPath Technologies has a fifty-two week low of $1.77 and a fifty-two week high of $5.45. The company has a current ratio of 2.81, a quick ratio of 1.67 and a debt-to-equity ratio of 0.12. The stock has a market cap of $54.19 million, a P/E ratio of 68.00 and a beta of 1.35.

Several equities analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of LightPath Technologies from $2.80 to $3.10 and gave the company a “buy” rating in a report on Friday. HC Wainwright reduced their target price on shares of LightPath Technologies from $5.50 to $3.50 and set a “buy” rating for the company in a research note on Monday, August 9th. Finally, TheStreet lowered shares of LightPath Technologies from a “c” rating to a “d+” rating in a research note on Monday, August 9th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.53.

A hedge fund recently bought a new stake in LightPath Technologies stock. Citadel Advisors LLC acquired a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,517 shares of the technology company’s stock, valued at approximately $149,000. Citadel Advisors LLC owned about 0.22% of LightPath Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 22.24% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical and infrared components. Its products include molded glass and assemblies; infrared molded lenses, diamond turned, conventional ground and polished ground lenses and assemblies; and collimator assemblies, which are used in applications involving light detection and ranging technology.

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Earnings History for LightPath Technologies (NASDAQ:LPTH)

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