LightPath Technologies (NASDAQ:LPTH) Posts Earnings Results, Misses Estimates By $0.05 EPS

LightPath Technologies (NASDAQ:LPTH) issued its earnings results on Thursday. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), FiscalAI reports. The business had revenue of $21.16 million during the quarter, compared to analysts’ expectations of $20.60 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%.

LightPath Technologies Stock Down 4.5%

LPTH traded down $0.46 during trading hours on Thursday, reaching $9.68. 3,433,886 shares of the stock traded hands, compared to its average volume of 3,162,228. The firm’s fifty day simple moving average is $12.00 and its two-hundred day simple moving average is $12.75. The company has a market cap of $607.80 million, a price-to-earnings ratio of -19.36 and a beta of 1.39. LightPath Technologies has a fifty-two week low of $5.17 and a fifty-two week high of $18.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

Wall Street Analyst Weigh In

LPTH has been the subject of several recent research reports. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Piper Sandler started coverage on LightPath Technologies in a research note on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. Finally, Canaccord Genuity Group lowered their target price on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.10.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP acquired a new stake in shares of LightPath Technologies during the third quarter valued at about $82,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies in the third quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies in the third quarter worth about $90,000. Jane Street Group LLC boosted its holdings 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 purchasing an additional 29,054 shares during the last quarter. Finally, Scientech Research LLC purchased a new position in LightPath Technologies in the third quarter valued at about $135,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.