LightPath Technologies, Inc. (NASDAQ:LPTH)
continues the climb. After soaring over 9% last week, yesterday the stock gained
another 6.25% on its price and its traded volume remained high.
Last week, the company announced two new management appointments, while yesterday LightPath decided to support its stock with a promotion. As a result, LPTH continued the gain and kept the high volume.
Apart from the promotion, the company released another positive announcement yesterday. According to it, LightPath has increased its sales in China more than 50% over the past six months and the team was completely satisfied with the result.
Apparently, the good news along with the promotion of the stock have attracted the investors and supported LPTH.
LightPath Technologies, Inc. manufactures optical components and assemblies, as well as other optical materials used to produce products that manipulate light. The stock started this year at a low-trade, though after that the price has had frequent ups and downs.
In May this year LightPath has received a Compliant Letter from NASDAQ, informing the company that by entering into a Securities Purchase Agreement directors of LPTH have purchased shares below the closing bid price. LightPath subsequently amended the Agreement by changing the purchase price from $2.20 to $2.325 per share and required the directors to pay the difference in cash to the company.
The financials of LPTH look a bit improved, though it has incurred a net loss and its stockholders' equity has increased. The company still has more assets than liabilities on its balance sheet, however, it has a long-term debt to cover.