LightPath Technologies, Inc. (NASDAQ:LPTH) Receives $14.30 Average Target Price from Analysts

LightPath Technologies, Inc. (NASDAQ:LPTHGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.30.

Several brokerages have commented on LPTH. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Canaccord Genuity Group reissued a “buy” rating and set a $16.50 price target on shares of LightPath Technologies in a report on Monday, July 27th. Finally, Piper Sandler assumed coverage on LightPath Technologies in a research report on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price objective for the company.

Get Our Latest Research Report on LightPath Technologies

Insider Buying and Selling

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in LightPath Technologies by 118.2% in the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock valued at $5,577,000 after purchasing an additional 301,225 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of LightPath Technologies during the second quarter worth $8,496,000. AIGH Capital Management LLC increased its holdings in shares of LightPath Technologies by 14.5% during the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after buying an additional 130,738 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of LightPath Technologies by 55.6% during the first quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company’s stock worth $3,971,000 after buying an additional 141,473 shares in the last quarter. Finally, Monashee Investment Management LLC bought a new position in shares of LightPath Technologies in the 4th quarter valued at $1,080,000. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock opened at $10.06 on Tuesday. The company has a 50 day moving average of $12.62 and a 200-day moving average of $12.85. LightPath Technologies has a 1-year low of $4.71 and a 1-year high of $18.94. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The company has a market cap of $631.66 million, a PE ratio of -20.12 and a beta of 1.39.

About LightPath Technologies

(Get Free Report)

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.

See Also

Analyst Recommendations for LightPath Technologies (NASDAQ:LPTH)

Receive News & Ratings for LightPath Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LightPath Technologies and related companies with MarketBeat.com's FREE daily email newsletter.