LightPath Technologies, Inc. (NASDAQ:LPTH) Receives $12.10 Average PT from Analysts

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.10.

A number of brokerages have recently weighed in on LPTH. Canaccord Genuity Group began coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. Lake Street Capital boosted their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. HC Wainwright boosted their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday. Finally, Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 302,352 shares of the company’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 sale, the director directly owned 3,283,164 shares of the company’s stock, valued at approximately $40,415,748.84. This represents a 8.43% 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. Insiders have sold 2,131,247 shares of company stock valued at $26,122,799 over the last 90 days. 24.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in LPTH. Jane Street Group LLC boosted its holdings in LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after purchasing an additional 29,054 shares during the last quarter. Mink Brook Asset Management LLC purchased a new stake in LightPath Technologies in the second quarter valued at $246,000. Calamos Advisors LLC purchased a new stake in LightPath Technologies in the third quarter valued at $1,322,000. NTV Asset Management LLC purchased a new stake in LightPath Technologies in the third quarter valued at $159,000. Finally, SG Americas Securities LLC purchased a new stake in LightPath Technologies in the third quarter valued at $139,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

LightPath Technologies Price Performance

Shares of LPTH opened at $16.09 on Wednesday. The firm has a market capitalization of $928.55 million, a PE ratio of -30.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. LightPath Technologies has a 1-year low of $2.08 and a 1-year high of $16.53. The company’s fifty day moving average price is $11.95 and its 200-day moving average price is $10.23.

About LightPath Technologies

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.