LightPath Technologies (NASDAQ:LPTH) was downgraded by investment analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Benzinga’s Daily Ratings Newsletter reports.
A number of other research analysts have also weighed in on LPTH. ValuEngine lowered LightPath Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Zacks Investment Research lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th.
LPTH stock traded down $0.07 during trading on Friday, reaching $0.63. The company’s stock had a trading volume of 5,890 shares, compared to its average volume of 48,978. LightPath Technologies has a 1 year low of $0.62 and a 1 year high of $1.95. The company has a quick ratio of 1.88, a current ratio of 3.09 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $18.41 million, a P/E ratio of -9.00 and a beta of 0.08. The company’s fifty day moving average is $0.76 and its 200-day moving average is $0.91.
LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, September 12th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.06). The business had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $8.51 million. LightPath Technologies had a negative return on equity of 7.73% and a negative net margin of 7.94%. Analysts anticipate that LightPath Technologies will post 0.01 earnings per share for the current year.
Several large investors have recently made changes to their positions in LPTH. Wellington Management Group LLP increased its holdings in LightPath Technologies by 191.5% during the first quarter. Wellington Management Group LLP now owns 1,386,900 shares of the technology company’s stock valued at $3,800,000 after buying an additional 911,200 shares during the period. Royce & Associates LP grew its holdings in LightPath Technologies by 12.5% in the first quarter. Royce & Associates LP now owns 1,133,546 shares of the technology company’s stock worth $1,700,000 after purchasing an additional 126,100 shares during the last quarter. Manatuck Hill Partners LLC grew its holdings in LightPath Technologies by 2.3% in the second quarter. Manatuck Hill Partners LLC now owns 1,125,000 shares of the technology company’s stock worth $3,038,000 after purchasing an additional 25,000 shares during the last quarter. Vertex One Asset Management Inc. purchased a new position in LightPath Technologies in the fourth quarter worth $1,271,000. Finally, First Wilshire Securities Management Inc. purchased a new position in LightPath Technologies in the fourth quarter worth $1,240,000. 14.96% of the stock is owned by hedge funds and other institutional investors.
LightPath Technologies Company Profile
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 materials used to produce products that manipulate light. Its products are used in various industries, including 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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