LightPath Technologies (NASDAQ:LPTH) Shares Gap Down – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.42, but opened at $10.82. LightPath Technologies shares last traded at $10.71, with a volume of 355,966 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LPTH shares. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group lifted their price target on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.12.

LightPath Technologies Stock Performance

The company has a market capitalization of $656.78 million, a P/E ratio of -20.92 and a beta of 1.34. The stock’s fifty day moving average price is $14.18 and its 200-day moving average price is $12.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The company had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. As a group, research analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction 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 transaction, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Occudo Quantitative Strategies LP bought a new stake in shares of LightPath Technologies in the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies during the third quarter worth about $84,000. Wexford Capital LP bought a new position in shares of LightPath Technologies during the third quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies in the third quarter worth approximately $90,000. Finally, Royal Bank of Canada lifted its stake in shares of LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after acquiring an additional 8,380 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.