HC Wainwright Issues Positive Forecast for LightPath Technologies (NASDAQ:LPTH) Stock Price

LightPath Technologies (NASDAQ:LPTH) had its price objective increased by analysts at HC Wainwright from $8.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. HC Wainwright’s price target points to a potential upside of 24.38% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Lake Street Capital boosted their target price on shares of LightPath Technologies from $4.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research upgraded shares of LightPath Technologies to a “hold” rating in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.00.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $8.04 on Wednesday. The firm has a market cap of $365.23 million, a price-to-earnings ratio of -22.33 and a beta of 1.18. LightPath Technologies has a 1 year low of $1.40 and a 1 year high of $10.69. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $7.55 and a 200 day simple moving average of $4.70.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors have recently modified their holdings of the company. Wealth Effects LLC boosted its holdings in shares of LightPath Technologies by 5.8% during the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock worth $419,000 after buying an additional 7,500 shares during the period. Ironwood Investment Counsel LLC raised its holdings in LightPath Technologies by 14.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company’s stock worth $65,000 after acquiring an additional 4,150 shares during the period. Royce & Associates LP lifted its position in LightPath Technologies by 4.7% during the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock worth $2,602,000 after acquiring an additional 58,194 shares during the last quarter. Jane Street Group LLC boosted its holdings in LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after acquiring an additional 29,054 shares during the period. Finally, Granite Investment Partners LLC bought a new stake in LightPath Technologies during the third quarter valued at about $106,000. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.