LightPath Technologies (NASDAQ:LPTH) Stock Price Up 8.6% – Time to Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price traded up 8.6% during mid-day trading on Tuesday . The stock traded as high as $12.06 and last traded at $11.95. 1,832,658 shares changed hands during trading, a decline of 37% from the average session volume of 2,923,037 shares. The stock had previously closed at $11.00.

Analysts Set New Price Targets

A number of analysts have weighed in on LPTH shares. HC Wainwright raised 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. Canaccord Genuity Group began coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus 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 company has a market cap of $689.62 million, a PE ratio of -22.98 and a beta of 0.98. The company has a 50-day moving average price of $11.60 and a two-hundred day moving average price of $9.10.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 55,000 shares of LightPath Technologies stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $12.09, for a total transaction of $664,950.00. Following the sale, the director owned 3,020,527 shares in the company, valued at $36,518,171.43. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,478,762 shares of company stock valued at $29,982,515 over the last three months. 24.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On LightPath Technologies

A number of large investors have recently added to or reduced their stakes in the company. Marathon Capital Management acquired a new position in LightPath Technologies in the 2nd quarter worth $54,000. J.W. Cole Advisors Inc. acquired a new stake in shares of LightPath Technologies during the second quarter valued at about $79,000. Occudo Quantitative Strategies LP acquired a new stake in shares of LightPath Technologies during the third quarter valued at about $82,000. Hudson Bay Capital Management LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $84,000. Finally, Wexford Capital LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $88,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.