Shares of LightPath Technologies, Inc. (NASDAQ: LPTH), a manufacturer and integrator of families of precision molded aspheric optics, were trading lower by more than 2 percent on Tuesday after TheStreetSweeper's Sonya Colberg released a report on the company.

According to Colberg, shares of LightPath have nearly quadrupled from a 52-week low of $0.82 per share due to stock promoters who "orchestrated a blitz" by promoting the stock 34 times over the past year.

Colberg added that a "glimmer of income" also contributed to the surge in LightPath Technologies' stock.

"All too often, investors get caught up in pump-and-dump schemes in which the stock rises for no real reason other than viral pumps, then the perpetrators dump the stock at inflated prices, leaving unsuspecting investors holding vastly devalued stock," Colberg warned investors. "Real companies, of course, don't want to be associated with pump-and-dumpers."

Meanwhile, Colberg also pointed out that LightPath has garnered "virtually no institutional interest" as institutions own an "incredibly tiny" 6 percent of the company. Among the institutional owners is Berg & Berg Enterprises - a creditor "that court records suggest doesn't hesitate to push its weight around."

Finally, Colberg stated that LightPath operates in a fiercely competitive environment which includes heavy-weight names such as Panasonic Corporation (ADR) (OTC: PCRFY), Kinik Company, Hoya Corp (ADR) (OTC: HOCPY), SAMSUNG ELECTRONIC (OTC: SSNLF) and Kyocera Corp (ADR) (NYSE: KYO).

LightPath "isn't even on the same wavelength as the well-heeled competitors in this space," Colberg further stated.

"LightPath can't live up to its $50 million market valuation," Colberg concluded. "It is tragically low on available cash, has accumulated losses of $205 million, and depends on financing activities to produce five times more cash than its business operations."

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