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

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

LightPath Technologies Stock Performance

Shares of LPTH traded down $0.74 during midday trading on Wednesday, reaching $10.27. 2,167,673 shares of the stock were exchanged, compared to its average volume of 3,245,159. The stock’s 50 day simple moving average is $10.44 and its 200 day simple moving average is $7.80. The company has a market cap of $467.59 million, a P/E ratio of -26.33 and a beta of 0.97. 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.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction that occurred on Monday, January 5th. The shares were 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 approximately $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of large investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at approximately $82,000. Wexford Capital LP bought a new position in LightPath Technologies in the third quarter valued at approximately $88,000. Jefferies Financial Group Inc. acquired a new position in LightPath Technologies during the third quarter valued at approximately $90,000. Jane Street Group LLC lifted its stake in 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 purchasing an additional 29,054 shares during the last quarter. Finally, Scientech Research LLC bought a new stake in LightPath Technologies during the third quarter worth $135,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LPTH has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Lake Street Capital boosted their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, HC Wainwright lifted their target price on LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.10.

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.