LightPath Technologies (NASDAQ:LPTH) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.20 and traded as high as $2.40. LightPath Technologies shares last traded at $2.21, with a volume of 115,476 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of LightPath Technologies in a research note on Thursday, February 27th. LADENBURG THALM/SH SH upped their price objective on shares of LightPath Technologies from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. StockNews.com cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. Finally, Lake Street Capital increased their price target on LightPath Technologies from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, December 27th.

LightPath Technologies Stock Down 3.1 %

The stock has a market cap of $88.76 million, a price-to-earnings ratio of -9.21 and a beta of 1.67. The firm’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 0.90.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $7.43 million during the quarter, compared to the consensus estimate of $8.28 million. LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. Sell-side analysts forecast that LightPath Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of LightPath Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in LightPath Technologies in the fourth quarter valued at approximately $28,000. Cubist Systematic Strategies LLC purchased a new position in shares of LightPath Technologies during the 4th quarter valued at $32,000. Millennium Management LLC bought a new position in shares of LightPath Technologies during the 4th quarter worth $53,000. Legato Capital Management LLC bought a new position in shares of LightPath Technologies during the 4th quarter worth $83,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in LightPath Technologies in the 4th quarter worth about $87,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company 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.