LightPath Technologies (NASDAQ:LPTH) Posts Earnings Results, Misses Estimates By $0.16 EPS

LightPath Technologies (NASDAQ:LPTH) posted its quarterly earnings results on Wednesday. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16), FiscalAI reports. The company had revenue of $16.35 million during the quarter, compared to analyst estimates of $14.96 million. LightPath Technologies had a negative net margin of 36.76% and a negative return on equity of 60.07%.

LightPath Technologies Stock Down 6.7%

NASDAQ:LPTH traded down $0.74 during trading hours on Wednesday, reaching $10.27. The company had a trading volume of 2,167,673 shares, compared to its average volume of 3,245,159. LightPath Technologies has a twelve month low of $1.61 and a twelve month high of $15.24. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. The firm has a market cap of $467.59 million, a price-to-earnings ratio of -26.33 and a beta of 0.97. The business’s 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $7.80.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Lake Street Capital raised their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. HC Wainwright increased their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Canaccord Genuity Group initiated coverage on LightPath Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.10.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. This trade represents a 22.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 24.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On LightPath Technologies

A number of large investors have recently modified their holdings of LPTH. Occudo Quantitative Strategies LP bought a new stake in LightPath Technologies during the 3rd quarter valued at $82,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter valued at about $88,000. Jefferies Financial Group Inc. bought a new stake in shares of LightPath Technologies during the third quarter worth about $90,000. Jane Street Group LLC increased its position in shares of LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares in the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of LightPath Technologies in the 3rd quarter worth about $135,000. 56.29% of the stock is currently owned by institutional investors.

About LightPath Technologies

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.