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  • Stock Rally Sustains For LightPath (LPTH) After New Product Reveal

    Stock Rally Sustains For LightPath (LPTH) After New Product Reveal

    LightPath Technologies, Inc. (NASDAQ: LPTH) has experienced a notable stock rally, marking its sixth consecutive day of growth. As of the last check this session, LPTH shares were on a rise of 12.37%, trading at $2.18. This spike, which was brought on by the introduction of a new product offering, has increased by about 20% during the last five days.

    Launch of the Camera Platform for Optical Gas Imaging (OGI)

    The latest surge comes after LightPath (LPTH) unveiled an updated Optical Gas Imaging (OGI) camera technology. The fugitive emissions of sulfur hexafluoride (SF6) and ammonia, gases with major industrial and environmental ramifications, may be detected by this cutting-edge technique. The OGI cameras use infrared (IR) technology detecting radiation absorbed or emitted by gases to observe gases that are otherwise invisible to the human eye.

    Advantages of the Non-Germanium Lens

    One of the standout features of LightPath’s OGI camera is its use of the proprietary non-germanium BlackDiamond BD6 lens. This advanced lens enhances the sensitivity and cost-effectiveness of the system, providing a competitive edge over existing technologies that rely on Germanium-based lenses. The shift to non-Germanium lenses is especially timely, given the geopolitical challenges affecting the global supply chain, such as China’s recent ban on the export of Germanium to the United States.

    Broadening Market Applications and Regulatory Compliance

    LightPath’s OGI camera platform is now poised to expand its reach into various industrial and manufacturing sectors, beyond its initial oil and gas applications. By detecting SF6—an extremely potent greenhouse gas—and ammonia, which poses environmental risks, the camera serves as a vital tool for industries subject to stringent emissions regulations.

    As environmental compliance becomes increasingly critical, the demand for affordable, high-sensitivity solutions like the OGI camera is expected to grow. Additionally, LightPath’s (LPTH) non-Germanium solution ensures supply chain security and aligns with the needs of companies seeking reliable and cost-efficient emissions detection technology.

  • Here is why LightPath Technologies Inc. (LPTH) performed well on Thursday?

    Here is why LightPath Technologies Inc. (LPTH) performed well on Thursday?

    LightPath Technologies Inc. (LPTH) shares gained 15.09% in after-hours on Thursday, July 8, 2021, and closed the day at $2.67. Earlier in the morning session, LPTH’s stock gained 0.43% to close Thursday’s session at $2.32 per share. The stock volume remained 2.74 million shares, which was higher than the average daily volume of 2.51 million shares within the past 50 days. LPTH shares have fallen 25.16% over the last 12 months, and they have moved down 8.66% in the past week. Over the past three months, the stock has lost 23.18%, while over the past six months, it has declined 39.43%.

    Let’s have a look at its recent developments

    Strong demand for LightPath’s High Precision Molded Glass Optics

    On July 8, 2021, LightPath received a multiyear supply agreement valued above $2.4 million which is a 50% increase over the prior contract.

    The supply agreement is for two types of glass aspheres which enable a global industrial engineering company to manufacture precision measurement and motion control devices across a diverse range of industries including additive manufacturing, aerospace, automotive and healthcare.

    Participation in the Mars Exploration Program

    On May 18, 2021, NASA’s Jet Propulsion Laboratory (JPL) confirmed that Optical elements manufactured by LightPath Technologies subsidiary, ISP Optics, is supporting the Mars Curiosity Rover’s efforts in the NASA Science Exploration Program.

    The Zinc Sulfide Mid-wave Infrared (MWIR) lens and beam-splitter are critical components of the Tunable Laser Spectrometer (TLS) instrument on the Mars Curiosity Rover.

    New Chairman appointment

    On May 12, 2021,LightPath Technologies, Inc appointed Mr. Louis Leeburg as Chairman of the Board of Directors of LightPath, replacing Mr. Robert Ripp who retired, effective May 11, 2021.

    Recent financial results

    On May 6, 2021, LightPath Technologies, Inc released its financial results for its fiscal 2021 third quarter ended March 31, 2021.

    Q3 2021 financial highlights

    • LightPath Technologies reported revenue of approximately $10.7 million in Q3 2021 compared to $8.7 million in Q3 2020.
    • The gross margin was approximately $3.9 million in Q3 2021 compared to approximately $4.0 million in the same period of the prior fiscal year.
    • The total cost of sales was approximately $6.8 million in Q3 2021 compared to $4.7 million for Q3 2020.
    • The gross margin was 36% in Q3 2021 compared to 46% in Q3 2020.
    • The total operating expenses were approximately $3.7 million inQ3 2021 compared to $2.9 million in the same period of the prior fiscal year.
    • The company suffered a net loss of approximately $223,000, or $0.01 basic and diluted loss per share in Q3 2021 compared to net income of $816,000, or $0.03 basic and diluted earnings per share in Q3 2020.
    • EBITDA was approximately $1.1 million for Q3 2021 compared to $1.9 million for Q3 2020.
    • As of March 31, 2021, the company had cash and cash equivalents totalled approximately $5.9 million.

    Conclusion

    The recent renewal contract had a positive impact on LPTH stock price on Thursday and we are pretty confident that I will close the week on a positive note as well.