LightPath Technologies Inc. (NASDAQ:LPTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
LightPath Technologies (NASDAQ:LPTH) traded down 0.59% on Wednesday, reaching $1.68. 72,983 shares of the company’s stock traded hands. The stock has a market cap of $26.26 million, a price-to-earnings ratio of 21.00 and a beta of -0.26. The stock has a 50 day moving average price of $1.85 and a 200 day moving average price of $1.84. LightPath Technologies has a 12-month low of $1.43 and a 12-month high of $3.79.
LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings results on Thursday, September 15th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. LightPath Technologies had a net margin of 8.19% and a return on equity of 15.03%. The business earned $4.73 million during the quarter. Analysts forecast that LightPath Technologies will post $0.15 EPS for the current year.
Several large investors have recently bought and sold shares of LPTH. Navellier & Associates Inc increased its position in shares of LightPath Technologies by 28.2% in the second quarter. Navellier & Associates Inc now owns 96,117 shares of the company’s stock worth $167,000 after buying an additional 21,117 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of LightPath Technologies by 58.6% in the first quarter. Renaissance Technologies LLC now owns 205,700 shares of the company’s stock worth $416,000 after buying an additional 76,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of LightPath Technologies by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 238,009 shares of the company’s stock worth $481,000 after buying an additional 2,061 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of LightPath Technologies by 2.2% in the second quarter. Vanguard Group Inc. now owns 357,762 shares of the company’s stock worth $622,000 after buying an additional 7,600 shares during the last quarter. Institutional investors and hedge funds own 8.64% of the company’s stock.
LightPath Technologies Company Profile
LightPath Technologies, Inc is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies.