LightPath Technologies (NASDAQ:LPTH) Trading Up 8.8% – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH) shares traded up 8.8% during mid-day trading on Monday . The stock traded as high as $11.54 and last traded at $11.49. 1,730,745 shares traded hands during trading, a decline of 48% from the average session volume of 3,303,111 shares. The stock had previously closed at $10.56.

Analyst Upgrades and Downgrades

LPTH has been the topic of several research reports. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Lake Street Capital boosted their price objective 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 raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group started coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.10.

LightPath Technologies Price Performance

The firm has a market capitalization of $515.85 million, a PE ratio of -29.05 and a beta of 0.97. The stock’s 50 day simple moving average is $10.29 and its two-hundred day simple moving average is $7.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98.

Insider Activity at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction dated 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 transaction, the director 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 filing with the SEC, which is available through this link. 24.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Calamos Advisors LLC purchased a new stake in shares of LightPath Technologies in the 3rd quarter valued at $1,322,000. Thompson Davis & CO. Inc. acquired a new position in shares of LightPath Technologies in the second quarter valued at approximately $134,000. Marathon Capital Management acquired a new stake in LightPath Technologies during the 2nd quarter worth approximately $54,000. J.W. Cole Advisors Inc. purchased a new position in LightPath Technologies in the 2nd quarter valued at approximately $79,000. Finally, HUB Investment Partners LLC grew its stake in shares of LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after acquiring an additional 117,000 shares in the last quarter. 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.