LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price fell 0% on Friday . The company traded as low as $2.73 and last traded at $2.91. 2,106,271 shares were traded during mid-day trading, an increase of 510% from the average session volume of 345,074 shares. The stock had previously closed at $2.91.
A number of brokerages have weighed in on LPTH. Zacks Investment Research lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Dougherty & Co restated a “buy” rating and set a $3.10 target price on shares of LightPath Technologies in a report on Friday, October 6th. Finally, ValuEngine upgraded shares of LightPath Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $2.80.
The company has a market cap of $71.41, a PE ratio of 8.82, a price-to-earnings-growth ratio of 1.21 and a beta of -0.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 2.55.
LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, September 14th. The technology company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.20. LightPath Technologies had a net margin of 27.16% and a return on equity of 37.81%. The company had revenue of $9.01 million during the quarter, compared to the consensus estimate of $8.75 million. research analysts predict that LightPath Technologies, Inc. will post 0.16 EPS for the current year.
Several large investors have recently modified their holdings of the company. Manatuck Hill Partners LLC lifted its stake in shares of LightPath Technologies by 2.3% in the 2nd quarter. Manatuck Hill Partners LLC now owns 1,125,000 shares of the technology company’s stock worth $3,038,000 after acquiring an additional 25,000 shares during the period. Foundry Partners LLC lifted its stake in LightPath Technologies by 8.5% during the third quarter. Foundry Partners LLC now owns 384,300 shares of the technology company’s stock valued at $984,000 after purchasing an additional 30,000 shares during the last quarter. Spark Investment Management LLC acquired a new stake in LightPath Technologies during the second quarter valued at approximately $174,000. Essex Investment Management Co. LLC lifted its stake in LightPath Technologies by 152.6% during the third quarter. Essex Investment Management Co. LLC now owns 143,267 shares of the technology company’s stock valued at $367,000 after purchasing an additional 86,541 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in LightPath Technologies by 19.0% during the second quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after purchasing an additional 114,279 shares during the last quarter. 31.14% of the stock is owned by institutional investors.
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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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