LightPath Technologies, Inc. (NASDAQ:LPTH) Receives $12.10 Consensus PT from Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.10.

A number of equities analysts recently commented on LPTH shares. Lake Street Capital boosted their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target for the company. Finally, HC Wainwright upped their price objective on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th.

LightPath Technologies Stock Up 0.2%

Shares of LightPath Technologies stock opened at $11.09 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. The stock has a market cap of $640.00 million, a price-to-earnings ratio of -21.33 and a beta of 0.98. The firm’s 50-day moving average is $11.62 and its two-hundred day moving average is $8.88. LightPath Technologies has a 1 year low of $1.61 and a 1 year high of $15.24.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 2,478,762 shares of company stock valued at $29,982,515 in the last ninety days. Insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LPTH. Lake Street Private Wealth LLC purchased a new stake in LightPath Technologies during the fourth quarter valued at approximately $108,000. Occudo Quantitative Strategies LP purchased a new position in LightPath Technologies in the third quarter worth $82,000. Hudson Bay Capital Management LP purchased a new position in LightPath Technologies in the third quarter worth $84,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter worth $88,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies during the third quarter worth $90,000. Hedge funds and other institutional investors 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.