Zacks Investment Research upgraded shares of LightPath Technologies, Inc. (NASDAQ:LPTH) from a sell rating to a hold rating in a report issued on Tuesday.

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. “

A number of other research analysts have also issued reports on LPTH. ValuEngine upgraded shares of LightPath Technologies from a hold rating to a buy rating in a research report on Friday, September 1st. Dougherty & Co restated a buy rating and set a $3.10 target price on shares of LightPath Technologies in a research report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $2.80.

Shares of LightPath Technologies (NASDAQ LPTH) traded down $0.14 on Tuesday, reaching $2.59. 618,300 shares of the company were exchanged, compared to its average volume of 348,307. LightPath Technologies has a twelve month low of $1.21 and a twelve month high of $4.10. The firm has a market cap of $66.99, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.30 and a beta of -0.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.29 and a current ratio of 3.18.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, September 14th. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.20. LightPath Technologies had a net margin of 25.13% and a return on equity of 31.44%. The business had revenue of $9.01 million for the quarter, compared to analyst estimates of $8.75 million. analysts anticipate that LightPath Technologies will post 0.14 earnings per share for the current year.

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Several large investors have recently made changes to their positions in LPTH. Royce & Associates LP grew its position in shares of LightPath Technologies by 53.0% during the 2nd quarter. Royce & Associates LP now owns 1,032,600 shares of the technology company’s stock worth $2,788,000 after purchasing an additional 357,600 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of LightPath Technologies by 1,332.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 311,047 shares of the technology company’s stock worth $840,000 after purchasing an additional 289,330 shares in the last quarter. Virtu KCG Holdings LLC grew its position in shares of LightPath Technologies by 601.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 215,689 shares of the technology company’s stock worth $582,000 after purchasing an additional 184,960 shares in the last quarter. Vanguard Group Inc. grew its position in shares of LightPath Technologies by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock worth $1,931,000 after purchasing an additional 114,279 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of LightPath Technologies by 152.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 143,267 shares of the technology company’s stock worth $367,000 after purchasing an additional 86,541 shares in the last quarter. Hedge funds and other institutional investors own 31.14% of the company’s stock.

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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