LightPath Technologies (NASDAQ:LPTH) Shares Cross Above 200-Day Moving Average of $1.41

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.41 and traded as high as $1.60. LightPath Technologies shares last traded at $1.54, with a volume of 34,750 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LPTH shares. StockNews.com started coverage on LightPath Technologies in a report on Saturday. They set a “hold” rating for the company. Lake Street Capital started coverage on LightPath Technologies in a report on Thursday, January 18th. They set a “buy” rating and a $3.00 price target for the company.

LightPath Technologies Trading Down 1.3 %

The company has a market capitalization of $58.55 million, a P/E ratio of -11.00 and a beta of 1.42. The business has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.41. The company has a quick ratio of 1.16, a current ratio of 1.93 and a debt-to-equity ratio of 0.02.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $7.32 million during the quarter, compared to the consensus estimate of $8.72 million. LightPath Technologies had a negative net margin of 15.48% and a negative return on equity of 14.22%. On average, analysts expect that LightPath Technologies, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

A number of institutional investors have recently modified their holdings of LPTH. State Street Corp lifted its holdings in shares of LightPath Technologies by 18.5% in the first quarter. State Street Corp now owns 50,834 shares of the technology company’s stock valued at $100,000 after purchasing an additional 7,925 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of LightPath Technologies in the first quarter valued at about $30,000. Virtu Financial LLC acquired a new stake in shares of LightPath Technologies in the first quarter valued at about $36,000. Worth Venture Partners LLC increased its position in shares of LightPath Technologies by 62.0% in the first quarter. Worth Venture Partners LLC now owns 509,425 shares of the technology company’s stock valued at $1,004,000 after acquiring an additional 195,018 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of LightPath Technologies by 4.1% in the second quarter. Renaissance Technologies LLC now owns 812,400 shares of the technology company’s stock valued at $999,000 after acquiring an additional 31,930 shares during the last quarter. 56.29% of the stock is currently owned by 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 components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.