LightPath Technologies (NASDAQ:LPTH) Stock Price Expected to Rise, HC Wainwright Analyst Says

LightPath Technologies (NASDAQ:LPTH) had its target price hoisted by analysts at HC Wainwright from $8.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. HC Wainwright’s price objective points to a potential upside of 24.38% from the company’s previous close.

A number of other brokerages have also recently weighed in on LPTH. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. Lake Street Capital increased their price objective on LightPath Technologies from $4.00 to $7.50 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research raised LightPath Technologies to a “hold” rating in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.00.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $8.04 on Wednesday. LightPath Technologies has a twelve month low of $1.40 and a twelve month high of $10.69. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $7.55 and a two-hundred day moving average of $4.70. The company has a market capitalization of $365.23 million, a price-to-earnings ratio of -22.33 and a beta of 1.18.

Institutional Trading of LightPath Technologies

A number of hedge funds have recently modified their holdings of the business. Calamos Advisors LLC purchased a new position in shares of LightPath Technologies during the third quarter valued at $1,322,000. Principal Financial Group Inc. purchased a new stake in LightPath Technologies in the 3rd quarter worth about $953,000. Mink Brook Asset Management LLC acquired a new stake in LightPath Technologies during the 2nd quarter worth about $246,000. Vanguard Group Inc. boosted its position in LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after acquiring an additional 72,208 shares during the period. Finally, Royce & Associates LP grew its stake in LightPath Technologies by 4.7% during the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock valued at $2,602,000 after acquiring an additional 58,194 shares in the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.