LightPath Technologies (NASDAQ:LPTH) Trading 12.1% Higher – Should You Buy?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) were up 12.1% during mid-day trading on Wednesday . The company traded as high as $18.26 and last traded at $18.20. Approximately 2,841,244 shares traded hands during trading, a decline of 6% from the average daily volume of 3,017,726 shares. The stock had previously closed at $16.24.

Analysts Set New Price Targets

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

LightPath Technologies Price Performance

The company has a 50-day moving average price of $12.68 and a two-hundred day moving average price of $10.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The company has a market cap of $1.10 billion, a PE ratio of -35.12 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The company had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. Sell-side analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 381,004 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.18, for a total value of $4,640,628.72. Following the transaction, the director owned 3,075,527 shares in the company, valued at approximately $37,459,918.86. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,390,853 shares of company stock valued at $16,925,923 in the last 90 days. Insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies in the third quarter worth about $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies in the third quarter worth about $84,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies in the third quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies in the third quarter worth about $90,000. Finally, Royal Bank of Canada lifted its stake in shares of LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after acquiring an additional 8,380 shares in 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.