LightPath Technologies (NASDAQ:LPTH) Releases Quarterly Earnings Results

LightPath Technologies (NASDAQ:LPTH) released its earnings results on Tuesday. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01, FiscalAI reports. LightPath Technologies had a negative return on equity of 7.02% and a negative net margin of 28.65%. The firm had revenue of $20.76 million for the quarter, compared to analysts’ expectations of $21.93 million.

LightPath Technologies Trading Down 0.2%

Shares of LightPath Technologies stock traded down $0.02 on Tuesday, hitting $7.99. 2,560,450 shares of the company traded hands, compared to its average volume of 3,119,146. The stock’s 50 day moving average price is $9.05 and its 200-day moving average price is $11.76. LightPath Technologies has a 52 week low of $5.83 and a 52 week high of $18.94. The company has a market cap of $560.02 million, a PE ratio of -19.97 and a beta of 1.53.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group dropped their price objective on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a report on Tuesday, September 1st. Piper Sandler decreased their target price on LightPath Technologies from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, LightPath Technologies has an average rating of “Moderate Buy” and a consensus price target of $13.70.

LightPath Technologies Company Profile

LightPath Technologies, Inc. is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company’s products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths. Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.