LightPath Technologies (NASDAQ:LPTH) Shares Cross Above 200-Day Moving Average – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.66 and traded as high as $3.10. LightPath Technologies shares last traded at $3.08, with a volume of 50,820 shares traded.

Wall Street Analysts Forecast Growth

LPTH has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of LightPath Technologies in a research report on Monday, May 19th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, Craig Hallum initiated coverage on shares of LightPath Technologies in a research report on Monday, April 28th. They issued a “buy” rating and a $5.50 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.88.

LightPath Technologies Stock Up 1.2%

The company’s 50-day moving average is $2.72 and its 200 day moving average is $2.66. The company has a market capitalization of $136.68 million, a PE ratio of -11.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 2.30.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, May 15th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 30.18% and a negative return on equity of 41.68%. The firm had revenue of $9.17 million for the quarter, compared to analysts’ expectations of $8.78 million. During the same period last year, the company posted ($0.07) earnings per share. As a group, analysts anticipate that LightPath Technologies, Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LPTH. Cubist Systematic Strategies LLC bought a new position in LightPath Technologies during the 4th quarter valued at about $32,000. Millennium Management LLC bought a new position in shares of LightPath Technologies in the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC lifted its stake in shares of LightPath Technologies by 14.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company’s stock worth $65,000 after purchasing an additional 4,150 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of LightPath Technologies by 101.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,800 shares of the technology company’s stock worth $109,000 after purchasing an additional 15,500 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of LightPath Technologies in the 4th quarter worth approximately $111,000. 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.