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StockNews.com Begins Coverage on LightPath Technologies (NASDAQ:LPTH)

Financial News Live ·  Sep 26, 2022 03:31

StockNews.com began coverage on shares of LightPath Technologies (NASDAQ:LPTH – Get Rating) in a report released on Friday morning. The firm issued a hold rating on the technology company's stock.

LightPath Technologies Stock Down 6.8 %

LPTH opened at $1.09 on Friday. LightPath Technologies has a fifty-two week low of $1.07 and a fifty-two week high of $2.87. The business has a 50-day moving average of $1.56 and a 200-day moving average of $1.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.35 and a quick ratio of 1.45. The company has a market capitalization of $29.51 million, a PE ratio of -8.38 and a beta of 1.65.

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LightPath Technologies (NASDAQ:LPTH – Get Rating) last posted its quarterly earnings results on Wednesday, September 14th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). LightPath Technologies had a negative return on equity of 11.19% and a negative net margin of 9.96%. During the same period in the previous year, the company earned ($0.11) EPS. Equities research analysts forecast that LightPath Technologies will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. Jane Street Group LLC purchased a new stake in shares of LightPath Technologies during the 1st quarter worth about $30,000. Virtu Financial LLC bought a new position in shares of LightPath Technologies in the 1st quarter valued at approximately $36,000. State Street Corp raised its stake in shares of LightPath Technologies by 18.5% in the 1st quarter. State Street Corp now owns 50,834 shares of the technology company's stock valued at $100,000 after acquiring an additional 7,925 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of LightPath Technologies by 73.5% in the 2nd quarter. Citadel Advisors LLC now owns 90,446 shares of the technology company's stock valued at $112,000 after acquiring an additional 38,316 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its stake in shares of LightPath Technologies by 28.7% in the 1st quarter. Game Plan Financial Advisors LLC now owns 112,000 shares of the technology company's stock valued at $221,000 after acquiring an additional 25,000 shares in the last quarter. 28.91% of the stock is owned by hedge funds and other institutional investors.

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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