LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Consensus Rating of “Moderate Buy” from Analysts

LightPath Technologies, Inc. (NASDAQ:LPTH) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.10.

A number of brokerages have recently commented on LPTH. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Canaccord Genuity Group began coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Lake Street Capital increased their target price 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. Finally, HC Wainwright lifted their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 302,352 shares of LightPath Technologies stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $12.31, for a total transaction of $3,721,953.12. Following the transaction, the director directly owned 3,283,164 shares in the company, valued at approximately $40,415,748.84. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 2,901,568 shares of company stock worth $35,150,961. Company insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new stake in shares of LightPath Technologies during the third quarter worth about $953,000. Portolan Capital Management LLC acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at approximately $12,939,000. Calamos Advisors LLC acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at approximately $1,322,000. HUB Investment Partners LLC increased its stake in LightPath Technologies by 141.0% during the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after purchasing an additional 117,000 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in LightPath Technologies during the 3rd quarter worth approximately $8,445,000. 56.29% of the stock is owned by institutional investors and hedge funds.

LightPath Technologies Stock Performance

LPTH stock opened at $10.22 on Friday. LightPath Technologies has a twelve month low of $1.61 and a twelve month high of $15.24. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $589.80 million, a P/E ratio of -19.65 and a beta of 1.07. The business’s fifty day moving average is $11.18 and its 200-day moving average is $9.54.

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.