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

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.1250.

Several brokerages recently commented on LPTH. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Sunday. HC Wainwright lifted their target price 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. Canaccord Genuity Group lifted their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st.

LightPath Technologies Stock Down 5.2%

Shares of NASDAQ LPTH opened at $11.52 on Friday. The company has a quick ratio of 3.42, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 52 week low of $2.21 and a 52 week high of $16.53. The firm’s fifty day moving average is $12.13 and its 200 day moving average is $10.59. The company has a market cap of $723.33 million, a price-to-earnings ratio of -23.04 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The company had revenue of $19.15 million for the quarter, compared to the consensus estimate of $17.04 million. On average, equities research analysts expect that LightPath Technologies will post -0.11 earnings per share for the current year.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 595,573 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the transaction, the director directly owned 3,393,395 shares of the company’s stock, valued at approximately $42,519,239.35. The trade was a 14.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,424,299 shares of company stock worth $29,699,636. 24.80% of the stock is currently owned by insiders.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Occudo Quantitative Strategies LP purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $84,000. Wexford Capital LP purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $90,000. Finally, Granite Investment Partners LLC purchased a new stake in shares of LightPath Technologies in the 3rd quarter worth about $106,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.