LightPath Technologies Inc. (LPTH) Downgraded by Zacks Investment Research to Sell
LightPath Technologies Inc. (NASDAQ:LPTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “
Shares of LightPath Technologies (NASDAQ:LPTH) traded down 0.59% during midday trading on Wednesday, hitting $1.68. The company had a trading volume of 72,983 shares. The firm has a market cap of $26.26 million, a price-to-earnings ratio of 21.00 and a beta of -0.26. The company’s 50 day moving average is $1.85 and its 200 day moving average is $1.84. LightPath Technologies has a one year low of $1.43 and a one year high of $3.79.
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LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, September 15th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $4.73 million for the quarter. LightPath Technologies had a return on equity of 15.03% and a net margin of 8.19%. Equities analysts forecast that LightPath Technologies will post $0.15 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in LPTH. Navellier & Associates Inc increased its position in shares of LightPath Technologies by 28.2% in the second quarter. Navellier & Associates Inc now owns 96,117 shares of the company’s stock worth $167,000 after buying an additional 21,117 shares in the last quarter. Barclays PLC acquired a new position in shares of LightPath Technologies during the first quarter worth $231,000. Renaissance Technologies LLC increased its position in shares of LightPath Technologies by 58.6% in the first quarter. Renaissance Technologies LLC now owns 205,700 shares of the company’s stock worth $416,000 after buying an additional 76,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of LightPath Technologies by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 238,009 shares of the company’s stock worth $481,000 after buying an additional 2,061 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of LightPath Technologies by 2.2% in the second quarter. Vanguard Group Inc. now owns 357,762 shares of the company’s stock worth $622,000 after buying an additional 7,600 shares in the last quarter. 8.64% of the stock is currently owned by institutional investors.
LightPath Technologies Company Profile
LightPath Technologies, Inc is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies.
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