LightPath Technologies (NASDAQ:LPTH) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.43 and traded as high as $2.58. LightPath Technologies shares last traded at $2.56, with a volume of 257,609 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on LPTH. Craig Hallum began coverage on LightPath Technologies in a research note on Monday, April 28th. They set a “buy” rating and a $5.50 target price for the company. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of LightPath Technologies in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.88.

LightPath Technologies Price Performance

The company has a market capitalization of $113.79 million, a PE ratio of -10.67 and a beta of 0.84. The company has a current ratio of 1.53, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $2.17 and a 200-day simple moving average of $2.43.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 15th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. The firm had revenue of $9.17 million during the quarter, compared to analysts’ expectations of $8.78 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. Equities analysts anticipate that LightPath Technologies, Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of LightPath Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ironwood Investment Counsel LLC lifted its holdings in shares of LightPath Technologies by 14.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company’s stock valued at $65,000 after purchasing an additional 4,150 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of LightPath Technologies in the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new stake in shares of LightPath Technologies in the 4th quarter valued at about $32,000. Northern Trust Corp lifted its holdings in shares of LightPath Technologies by 25.7% in the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company’s stock valued at $226,000 after purchasing an additional 13,087 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $53,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

About LightPath Technologies

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 components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.