LightPath Technologies, Inc. (LPTH) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of LightPath Technologies, Inc. (NASDAQ:LPTH) from a hold rating to a sell rating in a research note released 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. “

A number of other research analysts have also recently commented on LPTH. ValuEngine raised shares of LightPath Technologies from a hold rating to a buy rating in a report on Friday, September 1st. Dougherty & Co reissued a buy rating and issued a $3.10 target price on shares of LightPath Technologies in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $2.80.

Shares of LightPath Technologies (LPTH) traded down 1.42% during trading on Wednesday, reaching $2.77. 128,977 shares of the company traded hands. LightPath Technologies has a 12 month low of $1.21 and a 12 month high of $3.33. The company has a 50-day moving average of $2.60 and a 200-day moving average of $2.70. The stock has a market capitalization of $67.16 million, a PE ratio of 7.69 and a beta of -0.58.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, September 14th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.20. The firm had revenue of $9.01 million during the quarter, compared to analysts’ expectations of $8.75 million. LightPath Technologies had a net margin of 70.65% and a return on equity of 97.02%. Analysts forecast that LightPath Technologies will post $0.16 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of LightPath Technologies in the first quarter worth about $137,000. Royce & Associates LP lifted its holdings in shares of LightPath Technologies by 53.0% in the second quarter. Royce & Associates LP now owns 1,032,600 shares of the technology company’s stock worth $2,788,000 after acquiring an additional 357,600 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of LightPath Technologies by 191.5% in the first quarter. Wellington Management Group LLP now owns 1,386,900 shares of the technology company’s stock worth $3,800,000 after acquiring an additional 911,200 shares during the last quarter. Virtu KCG Holdings LLC lifted its holdings in shares of LightPath Technologies by 601.9% in the second quarter. Virtu KCG Holdings LLC now owns 215,689 shares of the technology company’s stock worth $582,000 after acquiring an additional 184,960 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of LightPath Technologies in the second quarter worth about $174,000. 30.81% of the stock is owned by hedge funds and other institutional investors.

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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