LightPath Technologies (NASDAQ:LPTH) Raised to Hold at Wall Street Zen

LightPath Technologies (NASDAQ:LPTH) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts have also recently weighed in on LPTH. Lake Street Capital upped their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. HC Wainwright upped their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group initiated coverage on LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.10.

LightPath Technologies Stock Down 7.7%

LPTH stock opened at $11.52 on Friday. The stock has a market capitalization of $664.82 million, a PE ratio of -22.15 and a beta of 0.97. The company has a fifty day moving average of $10.60 and a 200-day moving average of $7.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.26 and a current ratio of 3.97. LightPath Technologies has a one year low of $1.61 and a one year high of $15.24.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction dated 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 in the company, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 24.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. Jefferies Financial Group Inc. grew its holdings in shares of LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after purchasing an additional 5,223 shares during the period. Thompson Davis & CO. Inc. raised its holdings in LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock valued at $687,000 after buying an additional 6,691 shares during the period. Lake Street Private Wealth LLC acquired a new position in LightPath Technologies during the fourth quarter valued at approximately $108,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies during the third quarter worth approximately $82,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of LightPath Technologies in the third quarter worth $84,000. 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.