LightPath Technologies (NASDAQ:LPTH) Shares Down 4.6% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) fell 4.6% during trading on Tuesday . The stock traded as low as $9.70 and last traded at $9.73. 665,936 shares traded hands during trading, a decline of 79% from the average daily volume of 3,166,593 shares. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Canaccord Genuity Group reduced their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research note on Tuesday, September 1st. Piper Sandler assumed coverage on shares of LightPath Technologies in a report on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 target price for the company. Finally, Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.10.

LightPath Technologies Stock Performance

The stock has a market capitalization of $687.09 million, a PE ratio of -24.52 and a beta of 1.39. The firm has a 50 day moving average of $11.40 and a 200-day moving average of $12.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPTH. AWM Investment Company Inc. acquired a new position in LightPath Technologies in the 2nd quarter valued at approximately $41,488,000. Tema ETFs LLC boosted its stake in shares of LightPath Technologies by 129,258.4% during the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock valued at $32,487,000 after buying an additional 1,985,409 shares during the period. Tidal Investments LLC boosted its stake in shares of LightPath Technologies by 10,315.1% during the 2nd quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock valued at $31,925,000 after buying an additional 1,933,881 shares during the period. Granahan Investment Management LLC purchased a new position in shares of LightPath Technologies during the 4th quarter valued at $7,085,000. Finally, Wasatch Advisors LP purchased a new position in shares of LightPath Technologies during the 2nd quarter valued at $8,496,000. 56.29% of the stock is 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.