LightPath Technologies (NASDAQ:LPTH) Sets New 1-Year High – Here’s What Happened

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $16.65 and last traded at $16.36, with a volume of 2105002 shares traded. The stock had previously closed at $14.28.

Wall Street Analyst Weigh In

LPTH has been the subject of a number of recent analyst reports. HC Wainwright upped their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group increased their target price on shares of 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.13.

LightPath Technologies Stock Up 14.0%

The stock’s 50-day moving average price is $12.32 and its two-hundred day moving average price is $10.75. The stock has a market capitalization of $1.02 billion, a P/E ratio of -32.56 and a beta of 1.26. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01.

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, meeting 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 firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. As a group, research analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 381,004 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.18, for a total value of $4,640,628.72. Following the completion of the transaction, the director directly owned 3,075,527 shares of the company’s stock, valued at approximately $37,459,918.86. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 1,828,726 shares of company stock worth $22,237,106. 24.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock worth $579,000 after buying an additional 3,276 shares during the period. Jefferies Financial Group Inc. boosted its holdings in LightPath Technologies by 45.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after buying an additional 5,223 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in LightPath Technologies by 11.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in LightPath Technologies by 41.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after buying an additional 8,300 shares during the period. Finally, Royal Bank of Canada boosted its holdings in LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after buying an additional 8,380 shares during the period. 56.29% of the stock is owned by institutional investors.

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.