LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Consensus Rating of “Moderate Buy” from Analysts

LightPath Technologies, Inc. (NASDAQ:LPTH) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.75.

A number of brokerages recently issued reports on LPTH. Lake Street Capital upped 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. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. HC Wainwright upped their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, 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 target for the company.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 302,352 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $12.31, for a total value of $3,721,953.12. Following the completion of the sale, the director owned 3,283,164 shares in the company, valued at approximately $40,415,748.84. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 2,131,247 shares of company stock valued at $26,122,799 in the last three months. 24.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies in the third quarter valued at approximately $82,000. Hudson Bay Capital Management LP purchased a new stake in LightPath Technologies in the third quarter valued at approximately $84,000. Wexford Capital LP purchased a new stake in LightPath Technologies in the third quarter valued at approximately $88,000. Jefferies Financial Group Inc. purchased a new stake in LightPath Technologies in the third quarter valued at approximately $90,000. Finally, Granite Investment Partners LLC purchased a new stake in LightPath Technologies in the third quarter valued at approximately $106,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Performance

Shares of LPTH opened at $12.70 on Wednesday. The stock has a 50 day moving average price of $12.03 and a 200 day moving average price of $10.32. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $732.90 million, a price-to-earnings ratio of -24.42 and a beta of 1.07. LightPath Technologies has a 52-week low of $2.21 and a 52-week high of $16.53.

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.