LightPath Technologies (LPTH) Rating Lowered to Strong Sell at Zacks Investment Research

LightPath Technologies (NASDAQ:LPTH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks.com reports.

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. “

LPTH has been the subject of a number of other reports. ValuEngine raised shares of LightPath Technologies from a “hold” rating to a “buy” rating in a report on Monday, April 29th. B. Riley reissued a “buy” rating on shares of LightPath Technologies in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $3.00.

NASDAQ LPTH opened at $1.07 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 3.54 and a debt-to-equity ratio of 0.17. The firm has a market cap of $27.62 million, a P/E ratio of 26.75 and a beta of -0.21. LightPath Technologies has a 1 year low of $0.95 and a 1 year high of $2.75.

Hedge funds have recently made changes to their positions in the company. Coastal Investment Advisors Inc. acquired a new position in shares of LightPath Technologies in the 1st quarter valued at $37,000. First Interstate Bank raised its stake in shares of LightPath Technologies by 54.2% in the 4th quarter. First Interstate Bank now owns 55,500 shares of the technology company’s stock valued at $83,000 after buying an additional 19,500 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of LightPath Technologies in the 4th quarter valued at $301,000. Finally, Royce & Associates LP raised its stake in shares of LightPath Technologies by 12.5% in the 1st quarter. Royce & Associates LP now owns 1,133,546 shares of the technology company’s stock valued at $1,700,000 after buying an additional 126,100 shares in the last quarter. Institutional investors own 26.68% of the company’s stock.

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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