LightPath Technologies (NASDAQ:LPTH) Reaches New 1-Year High – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH) hit a new 52-week high during trading on Wednesday . The company traded as high as $13.36 and last traded at $13.2390, with a volume of 4931464 shares changing hands. The stock had previously closed at $11.66.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPTH. Lake Street Capital boosted their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. HC Wainwright increased their target price on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.13.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98. The firm has a market cap of $602.36 million, a P/E ratio of -33.92 and a beta of 0.98. The company’s 50 day moving average is $8.62 and its 200 day moving average is $6.60.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the 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 transaction, the director directly owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in LPTH. Calamos Advisors LLC acquired a new position in shares of LightPath Technologies during the third quarter worth $1,322,000. Thompson Davis & CO. Inc. bought a new position in LightPath Technologies during the 2nd quarter worth $134,000. Wealth Effects LLC raised its position in 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 purchasing an additional 7,500 shares during the last quarter. PFG Advisors acquired a new position in LightPath Technologies during the 3rd quarter worth about $183,000. Finally, Millennium Management LLC acquired a new stake in shares of LightPath Technologies in the third quarter valued at about $244,000. 56.29% of the stock is owned by institutional investors.

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.