LightPath Technologies (NASDAQ:LPTH) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

LightPath Technologies (NASDAQ:LPTHGet Rating) issued its quarterly earnings results on Wednesday. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Fidelity Earnings reports. LightPath Technologies had a negative return on equity of 10.97% and a negative net margin of 9.96%. During the same quarter last year, the business earned ($0.11) EPS.

LightPath Technologies Stock Performance

Shares of LPTH traded down $0.25 during trading hours on Friday, reaching $1.29. The company had a trading volume of 243,531 shares, compared to its average volume of 145,684. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.47 and a current ratio of 2.51. LightPath Technologies has a 12-month low of $1.07 and a 12-month high of $2.87. The firm has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.64.

Analysts Set New Price Targets

Separately, began coverage on LightPath Technologies in a research note on Thursday. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of LightPath Technologies by 18.5% during the 1st quarter. State Street Corp now owns 50,834 shares of the technology company’s stock worth $100,000 after acquiring an additional 7,925 shares in the last quarter. Jane Street Group LLC purchased a new stake in LightPath Technologies during the first quarter worth $30,000. Virtu Financial LLC acquired a new stake in LightPath Technologies in the first quarter valued at $36,000. Renaissance Technologies LLC increased its position in shares of LightPath Technologies by 4.1% in the second quarter. Renaissance Technologies LLC now owns 812,400 shares of the technology company’s stock valued at $999,000 after buying an additional 31,930 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of LightPath Technologies by 73.5% during the 2nd quarter. Citadel Advisors LLC now owns 90,446 shares of the technology company’s stock worth $112,000 after buying an additional 38,316 shares during the last quarter. 28.91% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

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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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