LightPath Technologies (NASDAQ:LPTH) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

LightPath Technologies (NASDAQ:LPTHGet Rating) issued its quarterly earnings results on Thursday. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01, MarketWatch Earnings reports. LightPath Technologies had a negative return on equity of 14.34% and a negative net margin of 12.90%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share.

NASDAQ:LPTH traded up $0.31 on Friday, hitting $1.62. The company’s stock had a trading volume of 142,610 shares, compared to its average volume of 157,070. The company has a current ratio of 2.55, a quick ratio of 1.52 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $1.85 and a two-hundred day moving average of $2.09. The firm has a market capitalization of $43.80 million, a P/E ratio of -8.89 and a beta of 1.33. LightPath Technologies has a one year low of $1.19 and a one year high of $3.57.

In other LightPath Technologies news, Director Darcie Peck acquired 22,500 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were purchased at an average price of $2.08 per share, for a total transaction of $46,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired 29,500 shares of company stock worth $60,880 in the last 90 days. Corporate insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LPTH. Goldman Sachs Group Inc. bought a new position in shares of LightPath Technologies during the fourth quarter worth approximately $52,000. Susquehanna International Group LLP increased its stake in shares of LightPath Technologies by 61.1% during the fourth quarter. Susquehanna International Group LLP now owns 21,667 shares of the technology company’s stock worth $53,000 after purchasing an additional 8,216 shares during the period. LPL Financial LLC increased its stake in shares of LightPath Technologies by 55.3% during the third quarter. LPL Financial LLC now owns 36,500 shares of the technology company’s stock worth $78,000 after purchasing an additional 13,000 shares during the period. Citadel Advisors LLC bought a new position in shares of LightPath Technologies during the second quarter worth approximately $149,000. Finally, Geode Capital Management LLC increased its stake in LightPath Technologies by 66.1% during the 3rd quarter. Geode Capital Management LLC now owns 303,772 shares of the technology company’s stock worth $647,000 after acquiring an additional 120,870 shares during the period. Institutional investors own 42.71% of the company’s stock.

Several research analysts recently commented on the company. B. Riley increased their price target on LightPath Technologies from $3.30 to $3.70 in a research report on Friday, February 11th. Zacks Investment Research raised LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, started coverage on LightPath Technologies in a research note on Tuesday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, LightPath Technologies presently has a consensus rating of “Buy” and an average target price of $3.60.

LightPath Technologies Company Profile (Get Rating)

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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Earnings History for LightPath Technologies (NASDAQ:LPTH)

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