LightPath Technologies (NASDAQ:LPTH) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.18 and traded as high as $13.70. LightPath Technologies shares last traded at $13.63, with a volume of 2,597,373 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LPTH shares. Canaccord Genuity Group raised their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LightPath Technologies has an average rating of “Moderate Buy” and a consensus price target of $14.12.

LightPath Technologies Stock Down 3.7%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The stock’s fifty day simple moving average is $14.35 and its 200-day simple moving average is $12.18. The stock has a market cap of $824.43 million, a P/E ratio of -26.26 and a beta of 1.33.

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

Insider Buying and Selling

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 3,864,452 shares of company stock worth $53,576,437. 24.80% of the stock is owned by corporate insiders.

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 bought a new stake in LightPath Technologies in the 3rd quarter valued at about $12,939,000. HUB Investment Partners LLC boosted its stake in LightPath Technologies by 141.0% during the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock valued at $1,586,000 after purchasing an additional 117,000 shares during the period. Tudor Investment Corp ET AL bought a new position in LightPath Technologies in the 3rd quarter worth about $8,445,000. AIGH Capital Management LLC grew its position in LightPath Technologies by 14.5% in the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after purchasing an additional 130,738 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of LightPath Technologies in the fourth quarter valued at approximately $672,000. Institutional investors and hedge funds 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.