LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.10.

Several brokerages have commented on LPTH. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective for the company. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, HC Wainwright boosted their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $10.98 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. LightPath Technologies has a one year low of $1.61 and a one year high of $15.24. The company has a 50-day simple moving average of $11.09 and a 200-day simple moving average of $9.58. The firm has a market capitalization of $633.66 million, a P/E ratio of -21.12 and a beta of 1.07.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,901,568 shares of company stock worth $35,150,961 over the last quarter. 24.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LightPath Technologies

Large investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. lifted its stake in shares of LightPath Technologies by 45.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after acquiring an additional 5,223 shares during the period. Thompson Davis & CO. Inc. grew its position in LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in LightPath Technologies by 41.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after buying an additional 8,300 shares during the last quarter. Lake Street Private Wealth LLC bought a new position in shares of LightPath Technologies in the fourth quarter valued at $108,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of LightPath Technologies during the 3rd quarter valued at $82,000. 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.