LightPath Technologies (NASDAQ:LPTH) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of LightPath Technologies (NASDAQ:LPTHGet Rating) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $2.00 price target on the technology company’s stock.

According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “

Several other research firms have also weighed in on LPTH. StockNews.com started coverage on LightPath Technologies in a research note on Wednesday, May 18th. They issued a hold rating on the stock. B. Riley lifted their price objective on LightPath Technologies from $3.30 to $3.70 in a research note on Friday, February 11th. Finally, HC Wainwright reiterated a buy rating and set a $3.50 target price on shares of LightPath Technologies in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $3.07.

LPTH stock opened at $1.64 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.47 and a current ratio of 2.51. LightPath Technologies has a 1 year low of $1.19 and a 1 year high of $3.57. The firm has a market cap of $44.36 million, a P/E ratio of -8.63 and a beta of 1.33. The stock has a 50-day simple moving average of $1.75 and a 200-day simple moving average of $2.06.

LightPath Technologies (NASDAQ:LPTHGet Rating) last issued its earnings results on Thursday, May 12th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. LightPath Technologies had a negative return on equity of 15.63% and a negative net margin of 14.56%. During the same period last year, the business posted ($0.01) earnings per share. On average, equities research analysts predict that LightPath Technologies will post -0.1 EPS for the current year.

In related news, Director Darcie Peck acquired 22,500 shares of the stock in a transaction dated Tuesday, March 29th. The stock was acquired at an average cost of $2.08 per share, for a total transaction of $46,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Worth Venture Partners LLC grew its stake in LightPath Technologies by 62.0% during the 1st quarter. Worth Venture Partners LLC now owns 509,425 shares of the technology company’s stock valued at $1,004,000 after acquiring an additional 195,018 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of LightPath Technologies in the 1st quarter worth approximately $36,000. Jane Street Group LLC acquired a new stake in LightPath Technologies during the 1st quarter worth approximately $30,000. State Street Corp lifted its holdings in LightPath Technologies by 18.5% during the 1st quarter. State Street Corp now owns 50,834 shares of the technology company’s stock worth $100,000 after buying an additional 7,925 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its holdings in LightPath Technologies by 48.8% during the 1st quarter. AIGH Capital Management LLC now owns 2,039,832 shares of the technology company’s stock worth $4,019,000 after buying an additional 669,252 shares in the last quarter. 42.71% of the stock is owned by institutional investors.

About LightPath Technologies (Get Rating)

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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