Posted by admin on May 14th, 2022
LightPath Technologies (NASDAQ:LPTH – Get Rating) released its earnings results on Thursday. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, MarketWatch Earnings reports. LightPath Technologies had a negative net margin of 12.90% and a negative return on equity of 14.34%. During the same period in the prior year, the business posted ($0.01) earnings per share.
Shares of LPTH traded up $0.31 during mid-day trading on Friday, hitting $1.62. 142,610 shares of the company’s stock were exchanged, compared to its average volume of 182,087. LightPath Technologies has a twelve month low of $1.19 and a twelve month high of $3.57. The firm has a fifty day moving average of $1.82 and a two-hundred day moving average of $2.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.52 and a current ratio of 2.55.
A number of research firms have issued reports on LPTH. B. Riley increased their target price on shares of LightPath Technologies from $3.30 to $3.70 in a research report on Friday, February 11th. StockNews.com assumed coverage on shares of LightPath Technologies in a research report on Tuesday. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $3.60.
In other news, Director Darcie Peck bought 22,500 shares of the stock in a transaction that occurred on Tuesday, March 29th. The shares were acquired at an average cost of $2.08 per share, for a total transaction of $46,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 29,500 shares of company stock worth $60,880 over the last quarter. 11.50% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in LightPath Technologies by 66.1% in the 3rd quarter. Geode Capital Management LLC now owns 303,772 shares of the technology company’s stock worth $647,000 after purchasing an additional 120,870 shares during the last quarter. Citadel Advisors LLC acquired a new stake in LightPath Technologies in the 2nd quarter worth $149,000. LPL Financial LLC grew its position in LightPath Technologies by 55.3% in the 3rd quarter. LPL Financial LLC now owns 36,500 shares of the technology company’s stock worth $78,000 after purchasing an additional 13,000 shares during the last quarter. Susquehanna International Group LLP grew its position in LightPath Technologies by 61.1% in the 4th quarter. Susquehanna International Group LLP now owns 21,667 shares of the technology company’s stock worth $53,000 after purchasing an additional 8,216 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in LightPath Technologies in the 4th quarter worth $52,000. Institutional investors and hedge funds own 42.71% of the company’s stock.
LightPath Technologies Company Profile (Get Rating)
LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light. Its products are used in defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.
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