LightPath Technologies, Inc. (NASDAQ:LPTH) – Equities research analysts at B. Riley cut their FY2020 earnings per share estimates for LightPath Technologies in a report released on Friday, May 10th, Zacks Investment Research reports. B. Riley analyst M. Wiesenberger now expects that the technology company will post earnings of $0.06 per share for the year, down from their prior estimate of $0.09. B. Riley has a “Buy” rating on the stock.
LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $7.91 million during the quarter, compared to analyst estimates of $8.98 million. LightPath Technologies had a negative net margin of 5.22% and a negative return on equity of 4.91%.
Several other equities analysts have also issued reports on the stock. TheStreet lowered shares of LightPath Technologies from a “c” rating to a “d+” rating in a report on Thursday, May 16th. Zacks Investment Research lowered shares of LightPath Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 14th. Finally, ValuEngine lowered shares of LightPath Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. LightPath Technologies currently has a consensus rating of “Hold” and an average target price of $3.00.
LPTH stock traded down $0.04 during midday trading on Monday, hitting $0.96. The stock had a trading volume of 3,600 shares, compared to its average volume of 97,036. The firm has a market cap of $25.32 million, a price-to-earnings ratio of 24.00 and a beta of 0.19. The company has a quick ratio of 2.13, a current ratio of 3.54 and a debt-to-equity ratio of 0.17. LightPath Technologies has a 1-year low of $0.95 and a 1-year high of $2.75.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP increased its position in shares of LightPath Technologies by 12.5% during the first quarter. Royce & Associates LP now owns 1,133,546 shares of the technology company’s stock worth $1,700,000 after acquiring an additional 126,100 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of LightPath Technologies during the fourth quarter worth about $301,000. First Interstate Bank increased its position in shares of LightPath Technologies by 54.2% during the fourth quarter. First Interstate Bank now owns 55,500 shares of the technology company’s stock worth $83,000 after acquiring an additional 19,500 shares in the last quarter. Finally, Coastal Investment Advisors Inc. bought a new stake in shares of LightPath Technologies during the first quarter worth about $37,000. Hedge funds and other institutional investors own 26.55% of the company’s stock.
About LightPath Technologies
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 materials used to produce products that manipulate light. Its products are used in various industries, including 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.