LightPath Technologies, Inc. (NASDAQ:LPTH) Given Consensus Rating of “Moderate Buy” by Analysts

LightPath Technologies, Inc. (NASDAQ:LPTH) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com 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 issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.1250.

LPTH has been the subject of several analyst reports. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Canaccord Genuity Group increased their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,864,452 shares of company stock worth $53,576,437 in the last 90 days. Company insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies during the third quarter valued at about $82,000. Hudson Bay Capital Management LP bought a new stake in LightPath Technologies in the third quarter worth about $84,000. Wexford Capital LP bought a new stake in LightPath Technologies in the third quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new position in LightPath Technologies in the third quarter valued at about $90,000. Finally, Royal Bank of Canada boosted its stake in LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after acquiring an additional 8,380 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $11.74 on Monday. The business’s 50 day moving average is $14.31 and its 200 day moving average is $12.63. LightPath Technologies has a 12-month low of $2.75 and a 12-month high of $18.94. The stock has a market cap of $737.15 million, a price-to-earnings ratio of -23.48 and a beta of 1.34. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business 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, sell-side analysts forecast that LightPath Technologies will post -0.11 earnings per share for the current fiscal year.

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.