Brokerages Set LightPath Technologies, Inc. (NASDAQ:LPTH) Price Target at $11.10

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.10.

Several brokerages have recently issued reports on LPTH. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Canaccord Genuity Group assumed 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. Finally, Lake Street Capital increased their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th.

LightPath Technologies Trading Down 2.8%

Shares of NASDAQ:LPTH opened at $11.01 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $10.44 and its 200 day moving average price is $7.80. The company has a market cap of $501.29 million, a PE ratio of -28.23 and a beta of 0.97. LightPath Technologies has a fifty-two week low of $1.61 and a fifty-two week high of $15.24.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, the director owned 2,728,968 shares in the company, valued at $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.80% of the stock is owned by company insiders.

Institutional Trading of LightPath Technologies

A number of large investors have recently added to or reduced their stakes in LPTH. Jane Street Group LLC grew its position in LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after buying an additional 29,054 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter worth $137,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter worth $79,000. Marathon Capital Management acquired a new stake in shares of LightPath Technologies during the second quarter worth $54,000. Finally, Mink Brook Asset Management LLC purchased a new stake in shares of LightPath Technologies during the second quarter valued at $246,000. 56.29% of the stock is currently owned by institutional investors.

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.