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

LightPath Technologies, Inc. (NASDAQ:LPTHGet Free Report) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.1250.

LPTH has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Canaccord Genuity Group raised their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th.

View Our Latest Report on LPTH

Insiders Place Their Bets

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 2,934,828 shares in the company, valued at $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 3,864,452 shares of company stock valued at $53,576,437 in the last quarter. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tema ETFs LLC lifted its stake in shares of 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 valued at $32,487,000 after purchasing an additional 1,985,409 shares during the period. Wasatch Advisors LP acquired a new position in LightPath Technologies in the second quarter valued at about $8,496,000. PVG Asset Management Corp bought a new position in LightPath Technologies during the 1st quarter worth approximately $108,000. Bank of America Corp DE boosted its position in shares of LightPath Technologies by 118.2% during the first quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock worth $5,577,000 after purchasing an additional 301,225 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 8,380 shares in the last quarter. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Down 6.4%

Shares of NASDAQ LPTH opened at $11.74 on Monday. LightPath Technologies has a 1 year low of $2.75 and a 1 year high of $18.94. The firm has a market cap of $737.15 million, a price-to-earnings ratio of -23.48 and a beta of 1.34. 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 stock’s 50-day simple moving average is $14.31 and its 200-day simple moving average is $12.60.

LightPath Technologies (NASDAQ:LPTHGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The company had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. As a group, equities analysts anticipate that LightPath Technologies will post -0.11 earnings per share for the current fiscal year.

LightPath Technologies Company Profile

(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.

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Analyst Recommendations for LightPath Technologies (NASDAQ:LPTH)

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