LightPath Technologies (NASDAQ:LPTH) Share Price Passes Above 200 Day Moving Average on Disappointing Earnings

LightPath Technologies, Inc. (NASDAQ:LPTH) passed above its two hundred day moving average during trading on Friday following a stronger than expected earnings report. The stock has a two hundred day moving average of $2.39 and traded as high as $2.72. LightPath Technologies shares last traded at $2.55, with a volume of 303,311 shares.

The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative return on equity of 31.13% and a negative net margin of 28.57%. The firm had revenue of $9.17 million for the quarter, compared to analysts’ expectations of $8.78 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Craig Hallum assumed coverage on LightPath Technologies in a report on Monday, April 28th. They set a “buy” rating and a $5.50 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of LightPath Technologies in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LPTH. EAM Investors LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $1,102,000. Geode Capital Management LLC grew its holdings in LightPath Technologies by 15.0% in 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 during the last quarter. Legato Capital Management LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $83,000. Essex Investment Management Co. LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $338,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $87,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Price Performance

The stock has a market cap of $109.39 million, a price-to-earnings ratio of -10.62 and a beta of 0.84. The stock has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $2.39. The company has a current ratio of 1.53, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.

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.