LightPath Technologies, Inc. (NASDAQ:LPTH) shares fell 6.6% on Thursday . The stock traded as low as $2.22 and last traded at $2.41. 562,162 shares were traded during mid-day trading, an increase of 305% from the average session volume of 138,928 shares. The stock had previously closed at $2.58.

Several research firms have recently weighed in on LPTH. ValuEngine upgraded LightPath Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut LightPath Technologies from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. LightPath Technologies presently has a consensus rating of “Buy” and an average price target of $3.00.

The firm has a 50-day moving average of $2.57 and a 200-day moving average of $2.66. The firm has a market capitalization of $62.94 million, a PE ratio of 29.00 and a beta of -0.59.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, September 14th. The technology company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.20. The firm had revenue of $9.01 million during the quarter, compared to analysts’ expectations of $8.75 million. LightPath Technologies had a return on equity of 43.39% and a net margin of 27.16%. On average, equities analysts expect that LightPath Technologies, Inc. will post $0.18 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. US Bancorp DE acquired a new stake in shares of LightPath Technologies in the 1st quarter worth $137,000. Royce & Associates LP boosted its position in shares of LightPath Technologies by 17.4% in the 1st quarter. Royce & Associates LP now owns 675,000 shares of the technology company’s stock worth $1,850,000 after purchasing an additional 100,000 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of LightPath Technologies by 191.5% in the 1st quarter. Wellington Management Group LLP now owns 1,386,900 shares of the technology company’s stock worth $3,800,000 after purchasing an additional 911,200 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of LightPath Technologies in the 1st quarter worth $547,000. Finally, Spark Investment Management LLC acquired a new stake in shares of LightPath Technologies in the 2nd quarter worth $174,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

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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.

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