LightPath Technologies (NASDAQ:LPTH) Shares Up 9.8% – Should You Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price was up 9.8% during mid-day trading on Thursday . The company traded as high as $11.24 and last traded at $11.22. Approximately 810,272 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,736,559 shares. The stock had previously closed at $10.22.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Lake Street Capital boosted their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. HC Wainwright upped their price objective on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, LightPath Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $12.10.

LightPath Technologies Trading Up 7.0%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. The stock’s 50-day moving average is $11.18 and its two-hundred day moving average is $9.54. The company has a market cap of $631.35 million, a P/E ratio of -21.04 and a beta of 1.07.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 2,901,568 shares of company stock worth $35,150,961. 24.80% of the stock is owned by corporate insiders.

Institutional Trading of LightPath Technologies

Hedge funds have recently bought and sold shares of the company. Lake Street Private Wealth LLC purchased a new position in LightPath Technologies in the fourth quarter worth about $108,000. Occudo Quantitative Strategies LP bought a new stake in LightPath Technologies during the third quarter valued at approximately $82,000. Hudson Bay Capital Management LP purchased a new stake in LightPath Technologies during the third quarter valued at approximately $84,000. Wexford Capital LP bought a new position in LightPath Technologies in the third quarter worth approximately $88,000. Finally, Jefferies Financial Group Inc. bought a new position in LightPath Technologies in the third quarter worth approximately $90,000. 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.