LightPath Technologies (NASDAQ:LPTH) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $15.00 price objective on the technology company’s stock.

LPTH has been the subject of several other reports. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.50 price target on shares of LightPath Technologies in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.30.

LightPath Technologies Stock Up 15.6%

Shares of NASDAQ:LPTH opened at $15.17 on Wednesday. The firm’s 50 day moving average price is $12.97 and its 200 day moving average price is $12.63. The stock has a market cap of $952.52 million, a price-to-earnings ratio of -30.34 and a beta of 1.39. LightPath Technologies has a fifty-two week low of $3.36 and a fifty-two week high of $18.94. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.80% of the stock is currently owned by company insiders.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. AWM Investment Company Inc. acquired a new position in shares of LightPath Technologies in the second quarter valued at approximately $41,488,000. Tema ETFs LLC grew its holdings in LightPath Technologies by 129,258.4% during the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after acquiring an additional 1,985,409 shares during the period. Granahan Investment Management LLC purchased a new position in LightPath Technologies in the fourth quarter worth $7,085,000. Wasatch Advisors LP purchased a new position in LightPath Technologies in the second quarter worth $8,496,000. Finally, Russell Investments Group Ltd. acquired a new stake in LightPath Technologies in the third quarter valued at $3,669,000. 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.