LightPath Technologies (LPTH) Rating Lowered to Sell at Zacks Investment Research

LightPath Technologies (NASDAQ:LPTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “LightPath Technologies, Inc. provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM lenses. LightPath also offers custom optical assemblies, including full engineering design support. “

Separately, Dougherty & Co restated a “buy” rating and issued a $3.10 price target on shares of LightPath Technologies in a research report on Friday, October 6th.

Shares of LightPath Technologies (NASDAQ:LPTH) traded up $0.12 during midday trading on Tuesday, reaching $2.42. 1,215,600 shares of the company’s stock traded hands, compared to its average volume of 702,200. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.29 and a current ratio of 3.18. LightPath Technologies has a 1 year low of $1.45 and a 1 year high of $4.10. The firm has a market cap of $56.44, a PE ratio of 7.81, a P/E/G ratio of 1.46 and a beta of -0.66.

Several large investors have recently bought and sold shares of LPTH. Royce & Associates LP boosted its stake in shares of LightPath Technologies by 53.0% in the 2nd quarter. Royce & Associates LP now owns 1,032,600 shares of the technology company’s stock valued at $2,788,000 after purchasing an additional 357,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of LightPath Technologies by 1,332.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 311,047 shares of the technology company’s stock valued at $840,000 after purchasing an additional 289,330 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of LightPath Technologies by 601.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 215,689 shares of the technology company’s stock valued at $582,000 after purchasing an additional 184,960 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of LightPath Technologies by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 715,226 shares of the technology company’s stock valued at $1,931,000 after purchasing an additional 114,279 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in shares of LightPath Technologies by 152.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 143,267 shares of the technology company’s stock valued at $367,000 after purchasing an additional 86,541 shares during the last quarter. 31.52% of the stock is currently owned by institutional investors.

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About LightPath Technologies

LightPath Technologies, Inc is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies.

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