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

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.1250.

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Canaccord Genuity Group restated a “buy” rating and issued a $16.50 target price on shares of LightPath Technologies in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th.

LightPath Technologies Price Performance

Shares of LPTH opened at $10.32 on Friday. LightPath Technologies has a 12-month low of $2.91 and a 12-month high of $18.94. The business’s fifty day moving average is $13.87 and its 200 day moving average is $12.66. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $647.99 million, a P/E ratio of -20.64 and a beta of 1.34.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate 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. Sell-side analysts anticipate that LightPath Technologies will post -0.11 earnings per share for the current fiscal year.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 3,864,452 shares of company stock valued at $53,576,437 over the last three months. Corporate insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the 3rd quarter valued at $8,445,000. AIGH Capital Management LLC lifted its stake in LightPath Technologies by 14.5% during the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock valued at $11,132,000 after acquiring an additional 130,738 shares in the last quarter. Monashee Investment Management LLC purchased a new position in LightPath Technologies during the 4th quarter worth $1,080,000. Harbor Capital Advisors Inc. purchased a new position in LightPath Technologies during the 4th quarter worth $672,000. Finally, Telemark Asset Management LLC bought a new stake in shares of LightPath Technologies in the 4th quarter worth $4,158,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

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.