LightPath Technologies (NASDAQ:LPTH) Trading Down 7.8% – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH) shares traded down 7.8% during mid-day trading on Friday . The stock traded as low as $13.26 and last traded at $13.2150. 515,891 shares traded hands during trading, a decline of 84% from the average session volume of 3,172,336 shares. The stock had previously closed at $14.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright raised their target price on shares of LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Lake Street Capital boosted their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.13.

LightPath Technologies Price Performance

The firm has a market capitalization of $593.53 million, a P/E ratio of -33.43 and a beta of 0.98. The business has a 50-day moving average of $9.43 and a 200 day moving average of $7.06. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.

Insider Activity

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, the director directly owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. This trade represents a 22.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LPTH. Marathon Capital Management bought a new position in shares of LightPath Technologies in the second quarter valued at approximately $54,000. J.W. Cole Advisors Inc. bought a new position in LightPath Technologies in the 2nd quarter valued at $79,000. Occudo Quantitative Strategies LP purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies in the third quarter worth $84,000. Finally, Wexford Capital LP purchased a new stake in shares of LightPath Technologies in the third quarter worth $88,000. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

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.