Wealth Effects LLC Purchases 82,000 Shares of LightPath Technologies, Inc. (NASDAQ:LPTH)

Wealth Effects LLC raised its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 176.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,500 shares of the technology company’s stock after acquiring an additional 82,000 shares during the quarter. Wealth Effects LLC owned approximately 0.32% of LightPath Technologies worth $258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. EAM Investors LLC purchased a new stake in shares of LightPath Technologies during the fourth quarter worth about $1,102,000. Connective Capital Management LLC purchased a new position in LightPath Technologies in the 4th quarter worth approximately $733,000. Essex Investment Management Co. LLC bought a new position in LightPath Technologies in the 4th quarter worth approximately $338,000. Geode Capital Management LLC grew its holdings in LightPath Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 389,619 shares of the technology company’s stock valued at $1,376,000 after buying an additional 50,767 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in LightPath Technologies during the 4th quarter valued at approximately $111,000. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Trading Down 1.6%

LPTH stock opened at $3.14 on Thursday. The firm has a fifty day moving average price of $2.59 and a 200 day moving average price of $2.62. LightPath Technologies, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 2.30. The firm has a market cap of $139.57 million, a PE ratio of -12.08 and a beta of 0.91.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $9.17 million during the quarter, compared to the consensus estimate of $8.78 million. LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%. During the same period in the previous year, the business posted ($0.07) EPS. Sell-side analysts anticipate that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LPTH shares. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of LightPath Technologies in a report on Monday, May 19th. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Craig Hallum started coverage on shares of LightPath Technologies in a report on Monday, April 28th. They set a “buy” rating and a $5.50 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.88.

LightPath Technologies 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.