LightPath Technologies (NASDAQ:LPTH) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of LightPath Technologies (NASDAQ:LPTH) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on LPTH. Lake Street Capital raised their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Canaccord Genuity Group started coverage on LightPath Technologies in a research report on Thursday. They issued a “buy” rating and a $15.00 price objective on the stock. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Finally, HC Wainwright raised their target price on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LightPath Technologies presently has an average rating of “Moderate Buy” and an average price target of $11.10.

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH opened at $10.42 on Friday. The business has a 50-day moving average of $9.98 and a two-hundred day moving average of $7.42. The firm has a market capitalization of $474.42 million, a PE ratio of -26.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. LightPath Technologies has a 12 month low of $1.61 and a 12 month high of $15.24.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently bought and sold shares of the business. Pekin Hardy Strauss Inc. purchased a new stake in LightPath Technologies during the 4th quarter worth approximately $194,000. Quent Capital LLC purchased a new position in shares of LightPath Technologies during the 4th quarter valued at approximately $324,000. Harbor Capital Advisors Inc. acquired a new stake in shares of LightPath Technologies during the fourth quarter worth approximately $672,000. Thompson Davis & CO. Inc. increased its stake in shares of LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of LightPath Technologies by 211.2% in the fourth quarter. SG Americas Securities LLC now owns 54,408 shares of the technology company’s stock worth $588,000 after buying an additional 36,925 shares during the last quarter. Institutional investors and hedge funds 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.