LightPath Technologies (NASDAQ:LPTH) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $15.00 price objective on the technology company’s stock.

A number of other equities research analysts also recently commented on LPTH. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. HC Wainwright upped their price objective on LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Lake Street Capital boosted their price target on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.10.

LightPath Technologies Stock Performance

Shares of LPTH stock opened at $10.42 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98. LightPath Technologies has a one year low of $1.61 and a one year high of $15.24. The firm’s 50 day moving average price is $9.98 and its 200-day moving average price is $7.42. The firm has a market cap of $474.42 million, a P/E ratio of -26.72 and a beta of 0.98.

Insider Buying and Selling

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. The trade was a 22.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Calamos Advisors LLC acquired a new stake in shares of LightPath Technologies during the third quarter valued at about $1,322,000. Thompson Davis & CO. Inc. acquired a new stake in LightPath Technologies during the 2nd quarter valued at approximately $134,000. Marathon Capital Management purchased a new stake in LightPath Technologies during the 2nd quarter worth approximately $54,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter valued at approximately $79,000. Finally, HUB Investment Partners LLC increased its stake in shares of LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after buying an additional 117,000 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other 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.