LightPath Technologies Inc. (LPTH) Downgraded by Zacks Investment Research
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) opened at 1.57 on Wednesday. LightPath Technologies has a 52 week low of $1.44 and a 52 week high of $3.79. The firm has a 50-day moving average of $1.82 and a 200-day moving average of $1.84. The company has a market cap of $24.54 million, a price-to-earnings ratio of 19.63 and a beta of -0.26.
LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, September 15th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. LightPath Technologies had a return on equity of 15.03% and a net margin of 8.19%. The company earned $4.73 million during the quarter. Equities analysts forecast that LightPath Technologies will post $0.15 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in LightPath Technologies by 2.2% in the second quarter. Vanguard Group Inc. now owns 357,762 shares of the company’s stock valued at $622,000 after buying an additional 7,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in 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 valued at $481,000 after buying an additional 2,061 shares in the last quarter. Renaissance Technologies LLC increased its position in LightPath Technologies by 58.6% in the first quarter. Renaissance Technologies LLC now owns 205,700 shares of the company’s stock valued at $416,000 after buying an additional 76,000 shares in the last quarter. Finally, Navellier & Associates Inc increased its position in LightPath Technologies by 28.2% in the second quarter. Navellier & Associates Inc now owns 96,117 shares of the company’s stock valued at $167,000 after buying an additional 21,117 shares in the last quarter. 8.64% of the stock is owned by institutional investors.
About LightPath Technologies
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.
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