LightPath Technologies (NASDAQ:LPTH) Stock Price Down 8% – Should You Sell?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) dropped 8% on Monday . The stock traded as low as $11.02 and last traded at $11.0420. Approximately 661,128 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,237,630 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. HC Wainwright boosted their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Lake Street Capital lifted their price objective on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Canaccord Genuity Group assumed coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.10.

LightPath Technologies Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. The firm has a market capitalization of $679.25 million, a P/E ratio of -22.63 and a beta of 0.97. The company’s 50 day moving average price is $11.19 and its 200 day moving average price is $8.42.

Insider Transactions at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,503,675 shares of company stock valued at $18,146,754 in the last quarter. 24.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Marathon Capital Management bought a new stake in shares of LightPath Technologies during the second quarter worth approximately $54,000. J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies during the 2nd quarter worth $79,000. Occudo Quantitative Strategies LP bought a new stake in shares of LightPath Technologies during the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $84,000. Finally, Wexford Capital LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $88,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.