Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Drops By 60.6%

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 429,700 shares, a decrease of 60.6% from the September 15th total of 1,090,000 shares. Based on an average daily volume of 349,400 shares, the short-interest ratio is presently 1.2 days. Currently, 2.0% of the company’s stock are short sold.

A number of brokerages recently weighed in on LPTH. TheStreet lowered shares of LightPath Technologies from a “c” rating to a “d+” rating in a research note on Monday, August 9th. B. Riley raised their price target on shares of LightPath Technologies from $2.80 to $3.10 and gave the company a “buy” rating in a research note on Friday, September 10th. Finally, HC Wainwright decreased their price target on shares of LightPath Technologies from $5.50 to $3.50 and set a “buy” rating for the company in a research note on Monday, August 9th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $3.53.

LPTH traded up $0.01 during trading on Thursday, hitting $2.08. 1 shares of the stock traded hands, compared to its average volume of 1,014,950. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.81 and a quick ratio of 1.67. The firm has a 50-day moving average of $2.13 and a 200 day moving average of $2.42. The firm has a market capitalization of $56.15 million, a P/E ratio of -15.92 and a beta of 1.35. LightPath Technologies has a 12-month low of $1.77 and a 12-month high of $5.45.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Wednesday, September 8th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The company had revenue of $8.33 million for the quarter, compared to the consensus estimate of $8.16 million. LightPath Technologies had a negative net margin of 8.28% and a negative return on equity of 8.23%. During the same quarter in the previous year, the business earned $0.02 EPS.

A number of institutional investors have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP increased its holdings in shares of LightPath Technologies by 42.7% in the first quarter. Occudo Quantitative Strategies LP now owns 14,663 shares of the technology company’s stock valued at $45,000 after purchasing an additional 4,386 shares during the period. BlackRock Inc. increased its stake in LightPath Technologies by 2.8% during the first quarter. BlackRock Inc. now owns 319,306 shares of the technology company’s stock worth $990,000 after acquiring an additional 8,752 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in LightPath Technologies by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 222,535 shares of the technology company’s stock worth $565,000 after acquiring an additional 16,699 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in LightPath Technologies during the second quarter worth about $43,000. Finally, Essex Investment Management Co. LLC increased its stake in LightPath Technologies by 14.3% during the first quarter. Essex Investment Management Co. LLC now owns 150,574 shares of the technology company’s stock worth $467,000 after acquiring an additional 18,884 shares during the last quarter. Institutional investors own 22.24% of the company’s stock.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical and infrared components. Its products include molded glass and assemblies, infrared molded lenses, diamond turned, conventional ground and polished ground lenses and assemblies, and collimator assemblies, which are used in applications involving light detection and ranging technology.

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