LightPath Technologies (NASDAQ:LPTH) Hits New 12-Month High – Should You Buy?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.24 and last traded at $14.3070, with a volume of 1175353 shares changing hands. The stock had previously closed at $14.00.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Lake Street Capital boosted their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, HC Wainwright boosted their price objective on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.13.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. The stock has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $6.96. The company has a market cap of $630.77 million, a P/E ratio of -36.22 and a beta of 0.98.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the transaction, the director owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LPTH. Vanguard Group Inc. raised its position in shares of 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 buying an additional 72,208 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in LightPath Technologies in the third quarter worth approximately $12,939,000. Tudor Investment Corp ET AL bought a new position in LightPath Technologies during the 3rd quarter valued at $8,445,000. Russell Investments Group Ltd. bought a new position in LightPath Technologies during the third quarter valued at about $3,669,000. Finally, HUB Investment Partners LLC grew its holdings in LightPath Technologies by 141.0% during the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after acquiring an additional 117,000 shares during the period. Institutional investors own 56.29% of the company’s stock.

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.