Brokerages Set LightPath Technologies, Inc. (NASDAQ:LPTH) Price Target at $14.12

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.1250.

LPTH has been the topic of several recent analyst reports. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings reaffirmed 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 target price on shares of LightPath Technologies in a research note on Monday, July 27th.

LightPath Technologies Trading Up 0.2%

Shares of LightPath Technologies stock opened at $12.01 on Friday. LightPath Technologies has a fifty-two week low of $3.36 and a fifty-two week high of $18.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The company has a market capitalization of $754.11 million, a P/E ratio of -24.02 and a beta of 1.39. The company has a fifty day moving average of $13.31 and a 200 day moving average of $12.62.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $19.15 million for the quarter, compared to the consensus estimate 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 anticipate that LightPath Technologies will post -0.11 earnings per share for the current fiscal year.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction dated 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 sale, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have 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

Institutional investors have recently added to or reduced their stakes in the company. Tema ETFs LLC grew its holdings in shares of LightPath Technologies by 129,258.4% in the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock valued at $32,487,000 after purchasing an additional 1,985,409 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies during the third quarter valued at $8,445,000. Granahan Investment Management LLC bought a new position in LightPath Technologies during the fourth quarter valued at $7,085,000. AWM Investment Company Inc. grew its stake in shares of LightPath Technologies by 40.9% in the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after buying an additional 592,500 shares in the last quarter. Finally, Wasatch Advisors LP bought a new stake in shares of LightPath Technologies in the 2nd quarter worth about $8,496,000. 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.