Analysts Set LightPath Technologies, Inc. (NASDAQ:LPTH) Target Price at $14.13

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.1250.

A number of equities research analysts have commented on LPTH shares. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Canaccord Genuity Group lifted their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 4,166,804 shares of company stock worth $57,298,390. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds have recently modified their holdings of LPTH. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies during the 3rd quarter valued at $12,939,000. Tudor Investment Corp ET AL bought a new stake in shares of LightPath Technologies during the 3rd quarter valued at $8,445,000. Granahan Investment Management LLC bought a new stake in shares of LightPath Technologies during the 4th quarter valued at $7,085,000. AWM Investment Company Inc. grew its position in shares of LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after acquiring an additional 592,500 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of LightPath Technologies during the 3rd quarter valued at $3,669,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Trading Up 1.9%

NASDAQ:LPTH opened at $14.60 on Thursday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 12 month low of $2.75 and a 12 month high of $18.94. The company has a market cap of $916.73 million, a PE ratio of -29.20 and a beta of 1.33. The company has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $11.92.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The business had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. Research analysts forecast that LightPath Technologies will post -0.11 earnings per share for the current year.

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.