LightPath Technologies (NASDAQ:LPTH) Shares Gap Down – Should You Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) gapped down prior to trading on Friday . The stock had previously closed at $13.60, but opened at $13.02. LightPath Technologies shares last traded at $13.2960, with a volume of 387,492 shares changing hands.

Analyst Upgrades and Downgrades

LPTH has been the topic of a number of recent research reports. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Lake Street Capital lifted their target price on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. HC Wainwright upped their price objective on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

LightPath Technologies Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The firm has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $8.16. The firm has a market cap of $707.47 million, a PE ratio of -23.81 and a beta of 0.97.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Calamos Advisors LLC bought a new stake in shares of LightPath Technologies during the 3rd quarter worth $1,322,000. Principal Financial Group Inc. acquired a new stake in LightPath Technologies during the third quarter worth $953,000. Thompson Davis & CO. Inc. bought a new position in shares of LightPath Technologies during the second quarter valued at $137,000. HUB Investment Partners LLC raised its stake in shares of LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after acquiring an additional 117,000 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of LightPath Technologies during the 3rd quarter worth approximately $106,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.