LightPath Technologies (NASDAQ:LPTH) Stock Passes Above 200 Day Moving Average of $1.40

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.40 and traded as high as $1.42. LightPath Technologies shares last traded at $1.37, with a volume of 15,362 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on LPTH shares. StockNews.com assumed coverage on LightPath Technologies in a research note on Saturday. They set a “hold” rating on the stock. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of LightPath Technologies in a research note on Friday, May 10th.

LightPath Technologies Price Performance

The firm has a market capitalization of $53.17 million, a price-to-earnings ratio of -7.61 and a beta of 1.30. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $1.29 and its two-hundred day moving average price is $1.40.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). LightPath Technologies had a negative return on equity of 18.97% and a negative net margin of 19.72%. The firm had revenue of $7.70 million during the quarter, compared to analyst estimates of $7.94 million. During the same quarter in the prior year, the company posted ($0.03) EPS. Analysts anticipate that LightPath Technologies, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. Murphy Pohlad Asset Management LLC grew its holdings in LightPath Technologies by 22.8% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 56,500 shares of the technology company’s stock valued at $71,000 after buying an additional 10,500 shares during the last quarter. Archon Capital Management LLC increased its position in LightPath Technologies by 1.8% during the first quarter. Archon Capital Management LLC now owns 2,082,934 shares of the technology company’s stock worth $2,874,000 after acquiring an additional 37,400 shares during the period. Vanguard Group Inc. raised its stake in LightPath Technologies by 15.6% during the 1st quarter. Vanguard Group Inc. now owns 1,571,852 shares of the technology company’s stock valued at $2,169,000 after purchasing an additional 211,626 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in LightPath Technologies by 73.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 111,824 shares of the technology company’s stock valued at $141,000 after purchasing an additional 47,429 shares during the period. Finally, AMH Equity Ltd increased its holdings in shares of LightPath Technologies by 12.4% during the 4th quarter. AMH Equity Ltd now owns 2,819,071 shares of the technology company’s stock worth $3,552,000 after purchasing an additional 310,870 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

About LightPath Technologies

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.