LightPath Technologies (NASDAQ:LPTH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LightPath Technologies (NASDAQ:LPTH) from a sell rating to a hold rating in a report released on Saturday.

Several other research analysts also recently commented on the company. Canaccord Genuity Group started coverage on LightPath Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Lake Street Capital boosted their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, HC Wainwright increased their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.10.

LightPath Technologies Trading Down 7.7%

Shares of LPTH stock opened at $11.52 on Friday. The stock has a market capitalization of $664.82 million, a price-to-earnings ratio of -22.15 and a beta of 0.97. The company’s fifty day simple moving average is $10.66 and its two-hundred day simple moving average is $8.04. LightPath Technologies has a 1 year low of $1.61 and a 1 year high of $15.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after buying an additional 72,208 shares in the last quarter. Portolan Capital Management LLC purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $12,939,000. Goldman Sachs Group Inc. lifted its position in LightPath Technologies by 14.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock worth $15,656,000 after buying an additional 181,538 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the third quarter worth approximately $8,445,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.