LightPath Technologies, Inc. $LPTH Stock Position Reduced by AMH Equity Ltd

AMH Equity Ltd cut its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 8.8% in the second quarter, Holdings Channel.com reports. The fund owned 2,079,293 shares of the technology company’s stock after selling 200,046 shares during the quarter. LightPath Technologies makes up about 8.4% of AMH Equity Ltd’s investment portfolio, making the stock its 2nd largest position. AMH Equity Ltd’s holdings in LightPath Technologies were worth $6,404,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Effects LLC lifted its stake in LightPath Technologies by 5.8% in the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock valued at $419,000 after acquiring an additional 7,500 shares during the last quarter. Ironwood Investment Counsel LLC lifted its stake in LightPath Technologies by 14.8% in the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company’s stock valued at $65,000 after acquiring an additional 4,150 shares during the last quarter. Royce & Associates LP lifted its stake in LightPath Technologies by 4.7% in the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock valued at $2,602,000 after acquiring an additional 58,194 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after acquiring an additional 29,054 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. HC Wainwright lifted their target price on shares of LightPath Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Lake Street Capital increased their price target on LightPath Technologies from $4.00 to $7.50 and gave the company a “buy” rating in a report on Friday, September 26th. Zacks Research raised shares of LightPath Technologies to a “hold” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.50.

LightPath Technologies Price Performance

Shares of LightPath Technologies stock opened at $8.28 on Friday. The firm has a fifty day simple moving average of $7.07 and a 200-day simple moving average of $4.34. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. LightPath Technologies, Inc. has a 1-year low of $1.40 and a 1-year high of $10.69. The stock has a market capitalization of $369.87 million, a price-to-earnings ratio of -23.00 and a beta of 1.18.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings data on Thursday, September 25th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). LightPath Technologies had a negative return on equity of 53.40% and a negative net margin of 39.92%.The firm had revenue of $12.21 million during the quarter, compared to analyst estimates of $12.20 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, sell-side analysts expect that LightPath Technologies, Inc. will post -0.18 earnings per share for the current year.

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; and infrared products, including catalog and custom infrared optics.