LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totalling 124,000 shares, an increase of 81.8% from the May 14th total of 68,200 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 551,000 shares, the days-to-cover ratio is presently 0.2 days.
An institutional investor recently raised its position in LightPath Technologies stock. Renaissance Technologies LLC lifted its position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 39.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 349,095 shares of the technology company’s stock after buying an additional 98,680 shares during the quarter. Renaissance Technologies LLC owned approximately 1.35% of LightPath Technologies worth $253,000 at the end of the most recent quarter. Institutional investors and hedge funds own 16.99% of the company’s stock.
Shares of LPTH stock traded down $0.27 during mid-day trading on Thursday, reaching $3.14. The stock had a trading volume of 4,959 shares, compared to its average volume of 482,322. The stock’s 50-day moving average price is $2.26 and its two-hundred day moving average price is $1.26. LightPath Technologies has a 52-week low of $0.54 and a 52-week high of $3.69. The firm has a market capitalization of $65.43 million, a PE ratio of -53.56 and a beta of 0.93. The company has a current ratio of 3.23, a quick ratio of 1.88 and a debt-to-equity ratio of 0.18.
LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. LightPath Technologies had a negative net margin of 4.48% and a negative return on equity of 4.67%. The firm had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $8.57 million. On average, equities research analysts forecast that LightPath Technologies will post 0.02 earnings per share for the current year.
A number of research analysts recently weighed in on LPTH shares. TheStreet upgraded shares of LightPath Technologies from a “d+” rating to a “c” rating in a research note on Friday, May 8th. Zacks Investment Research raised shares of LightPath Technologies from a “hold” rating to a “strong-buy” rating and set a $1.50 price target for the company in a research note on Thursday, February 13th. Finally, B. Riley reissued a “buy” rating and issued a $3.25 price target on shares of LightPath Technologies in a research note on Tuesday, May 26th.
LightPath Technologies Company Profile
LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical materials used to produce products that manipulate light. Its products are used in various industries, including defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.
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