LightPath Technologies, Inc. (NASDAQ:LPTH) Stock Has Consensus Target Price of $14.10 According to Brokerages

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.10.

A number of analysts have recently weighed in on LPTH shares. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Piper Sandler started coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price target for the company. Canaccord Genuity Group cut their price target on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a report on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday.

LightPath Technologies Price Performance

LPTH stock opened at $7.66 on Wednesday. LightPath Technologies has a 52-week low of $5.83 and a 52-week high of $18.94. The stock’s 50 day moving average is $10.87 and its two-hundred day moving average is $12.47. The company has a market capitalization of $536.51 million, a PE ratio of -19.15 and a beta of 1.38.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. acquired a new stake in shares of LightPath Technologies in the 2nd quarter valued at about $41,488,000. Tema ETFs LLC lifted its position in shares of 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 purchasing an additional 1,985,409 shares during the last quarter. Tidal Investments LLC grew its stake in LightPath Technologies by 10,315.1% in the second quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock worth $31,925,000 after purchasing an additional 1,933,881 shares in the last quarter. Wasatch Advisors LP acquired a new position in LightPath Technologies in the second quarter worth about $8,496,000. Finally, Granahan Investment Management LLC grew its stake in LightPath Technologies by 14.9% in the first quarter. Granahan Investment Management LLC now owns 753,621 shares of the technology company’s stock worth $7,559,000 after purchasing an additional 97,601 shares in the last quarter. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company Profile

LightPath Technologies, Inc is a photonics and optical technology company that designs, manufactures and supplies precision optical and infrared products. Its offerings include molded glass aspheric lenses, infrared optics, optical assemblies, coatings and custom-engineered components used in imaging, sensing and laser applications.

The company serves customers in markets including defense and aerospace, industrial technology, security, medical equipment and communications. Its products are incorporated into systems such as thermal imaging cameras, laser-based equipment and other optical instruments, and are sold to customers in the United States and international markets.

LightPath has expanded its capabilities through acquisitions and internal development, including the addition of infrared optics and imaging expertise.