Zacks Investment Research cut shares of LightPath Technologies Inc. (NASDAQ:LPTH) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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. “

Shares of LightPath Technologies (NASDAQ:LPTH) opened at 1.608 on Wednesday. The firm has a market cap of $25.14 million, a price-to-earnings ratio of 20.100 and a beta of -0.26. The firm’s 50-day moving average is $1.85 and its 200-day moving average is $1.84. LightPath Technologies has a 12-month low of $1.43 and a 12-month high of $3.79.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, September 15th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The firm earned $4.73 million during the quarter. LightPath Technologies had a net margin of 8.19% and a return on equity of 15.03%. Analysts predict that LightPath Technologies will post $0.15 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Navellier & Associates Inc increased its position in shares of 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 during the last quarter. Renaissance Technologies LLC increased its position in shares of 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 during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 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 during the last quarter. 8.64% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:LPTH

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