LightPath Technologies, Inc. (LPTH) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS
LightPath Technologies, Inc. (NASDAQ:LPTH) posted its quarterly earnings data on Thursday. The technology company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.20, MarketWatch Earnings reports. LightPath Technologies had a net margin of 6.94% and a return on equity of 12.48%. The business had revenue of $9.01 million during the quarter, compared to analysts’ expectations of $8.75 million.
LightPath Technologies (NASDAQ:LPTH) traded up 9.419% on Friday, hitting $2.637. 943,573 shares of the stock were exchanged. The firm has a market cap of $63.59 million, a PE ratio of 29.300 and a beta of -0.59. The company has a 50-day moving average price of $2.57 and a 200-day moving average price of $2.66. LightPath Technologies has a 52-week low of $1.21 and a 52-week high of $3.33.
Several research firms recently weighed in on LPTH. Zacks Investment Research cut shares of LightPath Technologies from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. ValuEngine raised shares of LightPath Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $3.00.
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An institutional investor recently raised its position in LightPath Technologies stock. Vanguard Group Inc. lifted its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 715,226 shares of the technology company’s stock after purchasing an additional 114,279 shares during the quarter. Vanguard Group Inc. owned 2.97% of LightPath Technologies worth $1,931,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.
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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