LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Average Recommendation of “Moderate Buy” from Brokerages

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.10.

LPTH has been the topic of several research analyst reports. Piper Sandler began coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They set an “overweight” rating and a $15.00 target price on the stock. Canaccord Genuity Group decreased their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a report on Tuesday, September 1st. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $9.81 on Friday. LightPath Technologies has a one year low of $5.83 and a one year high of $18.94. The business’s fifty day moving average is $11.40 and its 200 day moving average is $12.62. The stock has a market capitalization of $687.09 million, a PE ratio of -24.52 and a beta of 1.39.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of 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 acquiring an additional 1,933,881 shares during the period. WINTON GROUP Ltd bought a new position in LightPath Technologies in the second quarter valued at about $835,000. RFG Advisory LLC bought a new position in LightPath Technologies in the second quarter valued at about $5,879,000. FirstWave Capital Management LLC purchased a new position in LightPath Technologies in the second quarter worth about $1,700,000. Finally, TD Waterhouse Canada Inc. purchased a new position in LightPath Technologies in the second quarter worth about $71,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.