LightPath Technologies, Inc. (NASDAQ:LPTH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.1250.

A number of equities analysts recently weighed in on LPTH shares. Canaccord Genuity Group increased 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. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Finally, HC Wainwright raised their price objective on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares in the company, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 4,287,258 shares of company stock worth $58,744,883. Company insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors have recently bought and sold shares of LPTH. Occudo Quantitative Strategies LP acquired a new stake in LightPath Technologies during the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP acquired a new stake in LightPath Technologies during the 3rd quarter worth about $84,000. Wexford Capital LP acquired a new stake in LightPath Technologies during the 3rd quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new stake in LightPath Technologies during the 3rd quarter worth about $90,000. Finally, Royal Bank of Canada boosted its position in LightPath Technologies by 707.2% during the 1st 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 during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Trading Up 1.5%

NASDAQ:LPTH opened at $14.28 on Thursday. 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 1-year low of $2.75 and a 1-year high of $18.94. The firm has a market capitalization of $896.64 million, a price-to-earnings ratio of -28.56 and a beta of 1.33. The stock has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $11.63.

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

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.