LightPath Technologies (NASDAQ:LPTH) Shares Up 8% – Still a Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH) shot up 8% during trading on Friday . The company traded as high as $13.99 and last traded at $13.83. 1,431,399 shares were traded during mid-day trading, a decline of 49% from the average session volume of 2,796,394 shares. The stock had previously closed at $12.81.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LPTH shares. Lake Street Capital increased their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. HC Wainwright increased their price target 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. Canaccord Genuity Group started coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price target for the company. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.75.

LightPath Technologies Price Performance

The company has a market cap of $790.63 million, a price-to-earnings ratio of -26.35 and a beta of 1.26. 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 company’s 50 day moving average price is $12.03 and its 200 day moving average price is $10.36.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 302,352 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $12.31, for a total value of $3,721,953.12. Following the completion of the sale, the director owned 3,283,164 shares in the company, valued at approximately $40,415,748.84. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 2,131,247 shares of company stock valued at $26,122,799. 24.80% of the stock is currently owned by company insiders.

Institutional Trading of LightPath Technologies

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of LightPath Technologies by 6.0% in the first quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock valued at $579,000 after purchasing an additional 3,276 shares during the period. Jefferies Financial Group Inc. increased its holdings in LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after acquiring an additional 5,223 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in LightPath Technologies by 11.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock valued at $687,000 after acquiring an additional 6,691 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in LightPath Technologies by 41.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock valued at $307,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Lake Street Private Wealth LLC purchased a new position in LightPath Technologies during the 4th quarter valued at about $108,000. 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.