LightPath Technologies (NASDAQ:LPTH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LightPath Technologies (NASDAQ:LPTH) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also weighed in on LPTH. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Canaccord Genuity Group reduced their price target on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, September 1st. Finally, Piper Sandler initiated coverage on shares of LightPath Technologies in a report on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.10.

LightPath Technologies Stock Down 1.0%

NASDAQ LPTH opened at $9.11 on Friday. The stock’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $12.70. LightPath Technologies has a one year low of $5.75 and a one year high of $18.94. The firm has a market cap of $572.02 million, a PE ratio of -22.77 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of LightPath Technologies by 118.2% in the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock valued at $5,577,000 after purchasing an additional 301,225 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of LightPath Technologies during the second quarter worth approximately $8,496,000. Bank of New York Mellon Corp acquired a new position in LightPath Technologies in the second quarter valued at approximately $2,352,000. Renaissance Technologies LLC lifted its holdings in LightPath Technologies by 55.6% in the first quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company’s stock valued at $3,971,000 after buying an additional 141,473 shares during the period. Finally, Monashee Investment Management LLC acquired a new position in LightPath Technologies in the fourth quarter valued at approximately $1,080,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

LightPath Technologies, Inc is a photonics company that designs, manufactures, and supplies optical components and systems for use in defense, aerospace, industrial, telecommunications, medical, and other technology applications. The company focuses on infrared and visible-spectrum optical solutions, serving customers that require precision imaging, sensing, and laser-related technologies.

Its products and services include precision-molded glass aspheric lenses, infrared optics, optical assemblies, imaging systems, and custom-engineered photonics solutions.