LightPath Technologies (NASDAQ:LPTH) Sets New 12-Month High – Still a Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.36 and last traded at $13.2390, with a volume of 4931464 shares changing hands. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. HC Wainwright boosted their target price on LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Lake Street Capital raised their price target on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.13.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. The company has a market capitalization of $572.31 million, a PE ratio of -32.23 and a beta of 0.98. The stock has a 50-day simple moving average of $8.93 and a 200 day simple moving average of $6.76.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the completion of the transaction, the director directly owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. grew its holdings in shares of LightPath Technologies by 11.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of LightPath Technologies by 211.2% during the 4th quarter. SG Americas Securities LLC now owns 54,408 shares of the technology company’s stock worth $588,000 after purchasing an additional 36,925 shares during the period. Lake Street Private Wealth LLC acquired a new stake in shares of LightPath Technologies during the fourth quarter worth $108,000. JPMorgan Chase & Co. acquired a new stake in shares of LightPath Technologies during the third quarter worth $183,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of LightPath Technologies in the third quarter valued at $8,445,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.