LightPath Technologies (NASDAQ:LPTH) Trading Down 8% – Should You Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price dropped 8% during trading on Monday . The stock traded as low as $11.02 and last traded at $11.0420. Approximately 661,128 shares were traded during trading, a decline of 80% from the average daily volume of 3,237,630 shares. The stock had previously closed at $12.00.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group started coverage on LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. HC Wainwright raised their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. Lake Street Capital raised their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and an average price target of $12.10.

LightPath Technologies Stock Down 6.9%

The firm’s fifty day simple moving average is $10.92 and its two-hundred day simple moving average is $8.28. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $644.51 million, a price-to-earnings ratio of -21.48 and a beta of 0.97.

Insider Transactions at LightPath Technologies

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 stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the sale, the director owned 2,728,968 shares in the company, valued at $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.80% of the stock is currently owned by company insiders.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Portolan Capital Management LLC acquired a new stake in shares of LightPath Technologies during the third quarter valued at about $12,939,000. Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the 3rd quarter valued at approximately $8,445,000. Granahan Investment Management LLC purchased a new stake in LightPath Technologies in the fourth quarter valued at approximately $7,085,000. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in LightPath Technologies during the third quarter worth $3,669,000. 56.29% of the stock is owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

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.