LightPath Technologies (NASDAQ:LPTH) Stock Gets Price Target Cut from Piper Sandler

LightPath Technologies (NASDAQ:LPTH) had its price objective trimmed by Piper Sandler from $15.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also issued reports on LPTH. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, October 15th. Finally, Canaccord Genuity Group decreased their price target on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LightPath Technologies has an average rating of “Moderate Buy” and an average target price of $13.70.

LightPath Technologies Stock Performance

NASDAQ:LPTH opened at $7.29 on Friday. LightPath Technologies has a fifty-two week low of $5.83 and a fifty-two week high of $18.94. The company has a 50 day simple moving average of $10.26 and a two-hundred day simple moving average of $12.35. The company has a market capitalization of $510.59 million, a PE ratio of -18.22 and a beta of 1.38.

Institutional Trading of LightPath Technologies

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC acquired a new stake in LightPath Technologies in the third quarter worth $628,000. Lake Street Private Wealth LLC increased its stake in LightPath Technologies by 35.6% in the third quarter. Lake Street Private Wealth LLC now owns 36,200 shares of the technology company’s stock valued at $373,000 after purchasing an additional 9,500 shares in the last quarter. Hidden Cove Wealth Management LLC bought a new stake in LightPath Technologies in the third quarter valued at $398,000. Tidal Investments LLC raised its holdings in shares of LightPath Technologies by 10,315.1% during the second quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock valued at $31,925,000 after purchasing an additional 1,933,881 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of LightPath Technologies during the second quarter valued at about $835,000. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company’s products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths.

Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.