LightPath Technologies, Inc. (NASDAQ:LPTH) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.10.

A number of analysts have recently weighed in on the company. Piper Sandler started coverage on LightPath Technologies in a research report on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Finally, Canaccord Genuity Group reduced their target price on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a report on Tuesday, September 1st.

LightPath Technologies Stock Down 0.8%

Shares of NASDAQ:LPTH opened at $9.98 on Friday. LightPath Technologies has a fifty-two week low of $5.83 and a fifty-two week high of $18.94. The firm has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $12.60. The company has a market cap of $699.00 million, a PE ratio of -24.95 and a beta of 1.39.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AWM Investment Company Inc. purchased a new position in shares of LightPath Technologies during the second quarter valued at $41,488,000. Tema ETFs LLC increased its position in LightPath Technologies by 129,258.4% in the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after purchasing an additional 1,985,409 shares during the last quarter. Tidal Investments LLC raised its stake in shares of LightPath Technologies by 10,315.1% during the 2nd quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock worth $31,925,000 after purchasing an additional 1,933,881 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of LightPath Technologies during the 2nd quarter worth about $8,496,000. Finally, Granahan Investment Management LLC lifted its holdings in shares of LightPath Technologies by 14.9% during the 1st quarter. Granahan Investment Management LLC now owns 753,621 shares of the technology company’s stock valued at $7,559,000 after buying an additional 97,601 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

About LightPath Technologies

LightPath Technologies, Inc is a photonics company that designs, manufactures, and supplies optical components and systems for use in defense, aerospace, industrial, telecommunications, medical, and other technology applications. The company focuses on infrared and visible-spectrum optical solutions, serving customers that require precision imaging, sensing, and laser-related technologies.

Its products and services include precision-molded glass aspheric lenses, infrared optics, optical assemblies, imaging systems, and custom-engineered photonics solutions.