B. Riley Reaffirms Buy Rating for LightPath Technologies (NASDAQ:LPTH)

LightPath Technologies (NASDAQ:LPTH)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a research report issued to clients and investors on Monday, Zacks.com reports. B. Riley also issued estimates for LightPath Technologies’ Q1 2022 earnings at $0.03 EPS, Q2 2022 earnings at $0.04 EPS, Q3 2022 earnings at $0.03 EPS and Q4 2022 earnings at $0.04 EPS.

LPTH has been the topic of several other reports. Zacks Investment Research upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, April 7th. HC Wainwright assumed coverage on LightPath Technologies in a report on Monday, March 1st. They issued a “buy” rating and a $5.50 price objective for the company. Finally, Alliance Global Partners increased their target price on shares of LightPath Technologies from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, January 22nd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. LightPath Technologies currently has an average rating of “Buy” and an average target price of $5.17.

Shares of LPTH opened at $2.57 on Monday. The firm has a market capitalization of $67.17 million, a price-to-earnings ratio of 32.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.95 and a quick ratio of 1.65. LightPath Technologies has a 1-year low of $1.95 and a 1-year high of $5.45. The company has a 50-day moving average of $2.97 and a 200 day moving average of $3.34.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Wednesday, February 3rd. The technology company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The company had revenue of $9.92 million for the quarter, compared to analysts’ expectations of $9.35 million. LightPath Technologies had a return on equity of 7.46% and a net margin of 6.33%. On average, equities analysts anticipate that LightPath Technologies will post 0.07 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. J.W. Cole Advisors Inc. bought a new position in shares of LightPath Technologies in the 1st quarter worth $35,000. SeaCrest Wealth Management LLC purchased a new position in LightPath Technologies in the fourth quarter valued at about $43,000. Ritholtz Wealth Management raised its holdings in LightPath Technologies by 16.9% in the fourth quarter. Ritholtz Wealth Management now owns 14,635 shares of the technology company’s stock worth $57,000 after purchasing an additional 2,121 shares in the last quarter. Virtu Financial LLC bought a new position in LightPath Technologies in the fourth quarter worth about $64,000. Finally, LPL Financial LLC purchased a new stake in shares of LightPath Technologies during the fourth quarter valued at about $69,000. 24.27% of the stock is currently owned by institutional investors and hedge funds.

About LightPath Technologies

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. Its products are used in 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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