LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 212,000 shares, an increase of 30.6% from the August 30th total of 162,300 shares. Based on an average daily volume of 95,900 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.0% of the shares of the stock are sold short.
A number of research firms have recently weighed in on LPTH. Zacks Investment Research cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. B. Riley set a $2.00 price target on shares of LightPath Technologies and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, ValuEngine cut shares of LightPath Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.
Shares of NASDAQ:LPTH traded down $0.02 on Friday, reaching $0.72. 39,396 shares of the company were exchanged, compared to its average volume of 95,135. The company has a current ratio of 3.09, a quick ratio of 1.88 and a debt-to-equity ratio of 0.17. LightPath Technologies has a 1-year low of $0.62 and a 1-year high of $1.95. The firm has a market cap of $18.85 million, a price-to-earnings ratio of -10.30 and a beta of 0.09. The company has a 50-day moving average of $0.77 and a 200-day moving average of $1.01.
An institutional investor recently raised its position in LightPath Technologies stock. First Interstate Bank increased its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 62.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,000 shares of the technology company’s stock after buying an additional 37,000 shares during the period. First Interstate Bank owned about 0.37% of LightPath Technologies worth $87,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.19% 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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