LightPath Technologies, Inc. (NASDAQ:LPTH) Receives $10.13 Average Price Target from Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat 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 assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.1250.

A number of equities analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Lake Street Capital increased their price target on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Finally, HC Wainwright upped their target price on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th.

LightPath Technologies Trading Up 13.5%

NASDAQ LPTH opened at $13.23 on Monday. The stock has a market cap of $602.36 million, a P/E ratio of -33.92 and a beta of 0.98. The company’s fifty day simple moving average is $8.73 and its 200-day simple moving average is $6.65. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. LightPath Technologies has a 52 week low of $1.61 and a 52 week high of $13.40.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Portolan Capital Management LLC bought a new stake in LightPath Technologies during the third 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 about $8,445,000. Russell Investments Group Ltd. acquired a new stake in LightPath Technologies during the third quarter worth about $3,669,000. Calamos Advisors LLC bought a new position in LightPath Technologies in the third quarter worth about $1,322,000. Finally, Principal Financial Group Inc. acquired a new position in LightPath Technologies in the third quarter valued at approximately $953,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.