LightPath Technologies (NASDAQ:LPTH) Now Covered by Piper Sandler

Stock analysts at Piper Sandler started coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $15.00 price target on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 14.59% from the stock’s current price.

LPTH has been the subject of several other research reports. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.30.

LightPath Technologies Stock Performance

LPTH opened at $13.09 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 12-month low of $3.36 and a 12-month high of $18.94. The business has a 50 day moving average of $13.09 and a 200-day moving average of $12.61. The stock has a market cap of $821.92 million, a price-to-earnings ratio of -26.18 and a beta of 1.39.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, the director directly owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

A number of institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC raised its holdings in LightPath Technologies by 14.5% in the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock valued at $11,132,000 after acquiring an additional 130,738 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of LightPath Technologies by 55.6% in the first quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company’s stock worth $3,971,000 after purchasing an additional 141,473 shares during the period. Monashee Investment Management LLC bought a new position in shares of LightPath Technologies in the fourth quarter worth $1,080,000. Sei Investments Co. raised its stake in LightPath Technologies by 74.2% in the first quarter. Sei Investments Co. now owns 538,788 shares of the technology company’s stock valued at $5,404,000 after purchasing an additional 229,515 shares in the last quarter. Finally, Telemark Asset Management LLC bought a new stake in LightPath Technologies during the fourth quarter worth about $4,158,000. 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.