In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on Lightpath Technologies (LPTH), with a price target of $2.60. The company’s shares opened today at $1.88, close to its 52-week low of $1.65.
“After market close Buy-rated LightPath Technologies (LPTH, $2.60 PT) reported F1Q19 (Sep) sales of $8.5M which outpaced both our/consensus’ estimates of $8.3M/$8.4M, respectively. Demand for LPTH’s products remains strong as evidenced by the record 12-month backlog that was up 63% and bookings in the quarter that increased 30% Y/Y to $8.7M. Revenues were primarily driven by increased infrared (IR) sales that saw unit volume increase 78% Y/Y , as well as an increase in Optics (PMO). More importantly, LPTH saw its first material pickup in telecom bookings in at least a year, with bookings this quarter already matching its peak bookings achieved back in FY17 (Jun).”
According to TipRanks.com, Sherbetchyan is a 4-star analyst with an average return of 6.2% and a 48.4% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Vishay Precision Group, S&W Seed Company, and Ferroglobe PLC.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lightpath Technologies with a $2.60 average price target.
The company has a one-year high of $3.40 and a one-year low of $1.65. Currently, Lightpath Technologies has an average volume of 151K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical and infrared components. Its products include molded glass and assemblies; infrared molded lenses, diamond turned, conventional ground and polished ground lenses and assemblies; and Gradium lenses.