LightPath Technologies (NASDAQ:LPTH) Trading Down 10.5% – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH) shares traded down 10.5% during mid-day trading on Tuesday . The stock traded as low as $12.34 and last traded at $12.52. 2,187,959 shares were traded during trading, a decline of 21% from the average session volume of 2,780,196 shares. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. HC Wainwright upped their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price target for the company. Finally, Lake Street Capital upped their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.75.

LightPath Technologies Stock Up 5.1%

The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The firm has a market cap of $739.27 million, a price-to-earnings ratio of -24.63 and a beta of 1.07. The firm has a 50-day moving average of $12.03 and a two-hundred day moving average of $10.35.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 595,573 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the completion of the transaction, the director owned 3,393,395 shares of the company’s stock, valued at approximately $42,519,239.35. The trade was a 14.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 2,131,247 shares of company stock worth $26,122,799. 24.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LightPath Technologies

Large investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP acquired a new position in LightPath Technologies in the 3rd quarter valued at approximately $84,000. Wexford Capital LP acquired a new position in LightPath Technologies in the 3rd quarter valued at approximately $88,000. Jefferies Financial Group Inc. acquired a new position in LightPath Technologies in the 3rd quarter valued at approximately $90,000. Finally, Granite Investment Partners LLC acquired a new position in LightPath Technologies in the 3rd quarter valued at approximately $106,000. Institutional investors and hedge funds 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.