LightPath Technologies Inc. (LPTH) Upgraded at Zacks Investment Research
LightPath Technologies Inc. (NASDAQ:LPTH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 0.63% during mid-day trading on Tuesday, hitting $1.57. 51,464 shares of the stock traded hands. The firm has a 50 day moving average of $1.82 and a 200 day moving average of $1.84. The stock has a market cap of $24.54 million, a price-to-earnings ratio of 19.63 and a beta of -0.26. LightPath Technologies has a 12 month low of $1.44 and a 12 month high of $3.79.
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LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, September 15th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm earned $4.73 million during the quarter. LightPath Technologies had a net margin of 8.19% and a return on equity of 15.03%. On average, equities analysts expect that LightPath Technologies will post $0.15 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of LPTH. Navellier & Associates Inc raised 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 during the last quarter. Barclays PLC bought a new position in shares of LightPath Technologies during the first quarter worth about $231,000. Renaissance Technologies LLC raised 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised 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 during the last quarter. Finally, Vanguard Group Inc. raised 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 during the last quarter. Hedge funds and other institutional investors own 8.64% of the company’s stock.
About LightPath Technologies
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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