LightPath Technologies (NASDAQ:LPTH) Stock Price Up 6.3% – Still a Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price rose 6.3% on Tuesday . The company traded as high as $13.39 and last traded at $13.22. Approximately 3,426,851 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 2,894,540 shares. The stock had previously closed at $12.44.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LPTH shares. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Canaccord Genuity Group raised their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, HC Wainwright raised their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

LightPath Technologies Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The stock’s 50 day simple moving average is $12.32 and its two-hundred day simple moving average is $10.75. The firm has a market capitalization of $896.64 million, a PE ratio of -28.56 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. On average, sell-side analysts forecast that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 165,000 shares of LightPath Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $12.16, for a total transaction of $2,006,400.00. Following the sale, the director owned 2,990,112 shares of the company’s stock, valued at approximately $36,359,761.92. The trade was a 5.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 2,424,299 shares of company stock worth $29,699,636. 24.80% of the stock is currently owned by insiders.

Institutional Trading of LightPath Technologies

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of LightPath Technologies by 118.2% during 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 buying an additional 301,225 shares during the period. Royal Bank of Canada raised its position in shares of LightPath Technologies by 707.2% during the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after buying an additional 8,380 shares during the period. Union Square Park Capital Management LLC purchased a new stake in shares of LightPath Technologies during the 1st quarter valued at approximately $502,000. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of LightPath Technologies during the 1st quarter valued at approximately $535,000. Finally, Granahan Investment Management LLC raised its position in shares of LightPath Technologies by 14.9% during the 1st quarter. Granahan Investment Management LLC now owns 753,621 shares of the technology company’s stock valued at $7,559,000 after buying an additional 97,601 shares during the period. 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.