LightPath Technologies (NASDAQ:LPTH) Trading Down 11.1% – Time to Sell?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) were down 11.1% on Tuesday . The company traded as low as $12.39 and last traded at $12.54. Approximately 1,142,155 shares changed hands during trading, a decline of 64% from the average daily volume of 3,192,854 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

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

LightPath Technologies Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The company has a 50-day moving average of $14.41 and a 200 day moving average of $12.49. The firm has a market cap of $806.85 million, a P/E ratio of -25.70 and a beta of 1.34.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. On average, sell-side analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 3,864,452 shares of company stock valued at $53,576,437 in the last three months. 24.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after acquiring an additional 8,380 shares during the last quarter. Lake Street Private Wealth LLC bought a new stake in shares of LightPath Technologies during the 4th quarter valued at $108,000. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $84,000. Finally, PVG Asset Management Corp bought a new position in shares of LightPath Technologies in the 1st quarter worth $108,000. 56.29% of the stock is 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.