LightPath Technologies (NASDAQ:LPTH) Trading Down 10.4% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price fell 10.4% on Friday . The company traded as low as $9.83 and last traded at $9.85. 968,727 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,786,011 shares. The stock had previously closed at $10.99.

Analyst Upgrades and Downgrades

LPTH has been the subject of several recent analyst reports. Canaccord Genuity Group initiated coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. HC Wainwright upped their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Lake Street Capital raised their price objective on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Stock Down 12.3%

The company has a market capitalization of $556.32 million, a price-to-earnings ratio of -18.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The business’s 50 day moving average is $11.46 and its 200 day moving average is $9.39.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 16,000 shares of LightPath Technologies stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the sale, the director directly owned 2,900,073 shares in the company, valued at approximately $34,800,876. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 2,599,216 shares of company stock worth $31,429,008 in the last three months. Insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in LightPath Technologies during the 3rd quarter valued at about $953,000. Portolan Capital Management LLC purchased a new position in shares of LightPath Technologies in the third quarter worth about $12,939,000. Calamos Advisors LLC acquired a new stake in shares of LightPath Technologies during the third quarter worth about $1,322,000. HUB Investment Partners LLC lifted its holdings in shares of LightPath Technologies by 141.0% during the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after purchasing an additional 117,000 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the third quarter valued at approximately $8,445,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.