LightPath Technologies (NASDAQ:LPTH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
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. “
LPTH has been the topic of several other reports. Roth Capital set a $3.00 target price on LightPath Technologies and gave the company a “buy” rating in a research report on Wednesday, February 14th. B. Riley initiated coverage on LightPath Technologies in a research report on Wednesday. They issued a “buy” rating and a $2.75 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. LightPath Technologies presently has a consensus rating of “Buy” and an average target price of $2.90.
LPTH opened at $2.25 on Friday. LightPath Technologies has a 12 month low of $2.03 and a 12 month high of $4.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 3.88. The company has a market capitalization of $56.86, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.96 and a beta of -0.26.
Several hedge funds have recently modified their holdings of LPTH. Vanguard Group Inc. increased its position in shares of LightPath Technologies by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after purchasing an additional 114,279 shares during the period. Dimensional Fund Advisors LP increased its position in shares of LightPath Technologies by 45.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 453,767 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 142,720 shares during the period. Virtu Financial LLC increased its position in shares of LightPath Technologies by 414.2% during the 4th quarter. Virtu Financial LLC now owns 82,052 shares of the technology company’s stock valued at $182,000 after purchasing an additional 66,094 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of LightPath Technologies during the 4th quarter valued at $143,000. Finally, Penbrook Management LLC acquired a new position in shares of LightPath Technologies during the 4th quarter valued at $159,000. Institutional investors own 27.41% of the company’s stock.
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About LightPath Technologies
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.
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