LightPath Technologies (NASDAQ:LPTH) Now Covered by Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report issued on Thursday. The brokerage set a “buy” rating and a $15.00 price target on the technology company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 32.98% from the stock’s current price.

Several other brokerages also recently weighed in on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. HC Wainwright boosted their price target on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Lake Street Capital lifted their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LightPath Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $11.10.

LightPath Technologies Stock Performance

NASDAQ LPTH opened at $11.28 on Thursday. The stock has a market capitalization of $513.58 million, a price-to-earnings ratio of -28.92 and a beta of 0.98. LightPath Technologies has a twelve month low of $1.61 and a twelve month high of $15.24. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $9.79 and a 200 day moving average of $7.32.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction on Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. The trade was a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LPTH. Portolan Capital Management LLC acquired a new position in LightPath Technologies during the third quarter worth about $12,939,000. Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the 3rd quarter valued at about $8,445,000. Russell Investments Group Ltd. purchased a new position in LightPath Technologies in the 3rd quarter worth approximately $3,669,000. Calamos Advisors LLC acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $1,322,000. Finally, Principal Financial Group Inc. acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $953,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.