LightPath Technologies (LPTH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of LightPath Technologies (NASDAQ:LPTH) from a buy rating to a hold rating in a research report sent to investors on Friday, February 16th.

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. “

Separately, Roth Capital set a $3.00 price target on shares of LightPath Technologies and gave the stock a buy rating in a report on Wednesday, February 14th.

LightPath Technologies (NASDAQ:LPTH) remained flat at $$2.29 during midday trading on Friday. The company had a trading volume of 162,620 shares, compared to its average volume of 248,020. LightPath Technologies has a 52-week low of $2.03 and a 52-week high of $4.10. The company has a current ratio of 3.88, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $58.41, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.98 and a beta of -0.35.

A number of institutional investors have recently added to or reduced their stakes in the stock. Penbrook Management LLC purchased a new position in LightPath Technologies in the fourth quarter valued at about $159,000. Goldman Sachs Group Inc. bought a new stake in shares of LightPath Technologies in the fourth quarter valued at approximately $143,000. Virtu Financial LLC raised its position in shares of LightPath Technologies by 414.2% in the fourth 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. Dimensional Fund Advisors LP raised its position in shares of LightPath Technologies by 45.9% in the third 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. Finally, Foundry Partners LLC raised its position in shares of LightPath Technologies by 8.5% in the third 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 during the period. Institutional investors and hedge funds own 27.41% of the company’s stock.

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LightPath Technologies Company Profile

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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