LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price was down 8.3% during trading on Tuesday . The stock traded as low as $2.12 and last traded at $2.21. Approximately 1,262,261 shares were traded during trading, an increase of 267% from the average daily volume of 344,241 shares. The stock had previously closed at $2.41.

Several equities analysts recently commented on LPTH shares. ValuEngine upgraded LightPath Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Dougherty & Co reaffirmed a “buy” rating and set a $3.10 price target on shares of LightPath Technologies in a report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $2.80.

The stock has a market capitalization of $58.65, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.52 and a beta of -0.66. The company has a current ratio of 3.18, a quick ratio of 2.29 and a debt-to-equity ratio of 0.32.

Hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC increased its holdings in LightPath Technologies by 152.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 143,267 shares of the technology company’s stock valued at $367,000 after purchasing an additional 86,541 shares in the last quarter. Virtu KCG Holdings LLC increased its holdings in LightPath Technologies by 601.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 215,689 shares of the technology company’s stock valued at $582,000 after purchasing an additional 184,960 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in LightPath Technologies by 1,332.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 311,047 shares of the technology company’s stock valued at $840,000 after purchasing an additional 289,330 shares in the last quarter. Foundry Partners LLC increased its holdings in LightPath Technologies by 8.5% during the 3rd quarter. Foundry Partners LLC now owns 384,300 shares of the technology company’s stock valued at $984,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of LightPath Technologies by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after buying an additional 114,279 shares during the period. 31.52% of the stock is owned by hedge funds and other institutional investors.

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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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