LightPath Technologies (NASDAQ:LPTH) Upgraded to “Hold” at Wall Street Zen

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

A number of other equities analysts have also commented on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Canaccord Genuity Group raised their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, HC Wainwright raised their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $16.95 on Monday. The company has a 50 day moving average price of $12.45 and a 200 day moving average price of $10.81. LightPath Technologies has a 52 week low of $2.28 and a 52 week high of $17.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -33.90 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting 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 analyst estimates of $17.04 million. Research analysts forecast that LightPath Technologies will post -0.11 EPS for the current year.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 381,004 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.18, for a total transaction of $4,640,628.72. Following the transaction, the director owned 3,075,527 shares in the company, valued at approximately $37,459,918.86. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 1,822,226 shares of company stock worth $22,159,041. 24.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Jane Street Group LLC raised its holdings in shares of LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after purchasing an additional 29,054 shares in the last quarter. Mink Brook Asset Management LLC bought a new position in LightPath Technologies in the 2nd quarter worth $246,000. SG Americas Securities LLC bought a new position in LightPath Technologies in the 3rd quarter worth $139,000. Principal Financial Group Inc. bought a new position in LightPath Technologies in the 3rd quarter worth $953,000. Finally, Thompson Davis & CO. Inc. raised its holdings in LightPath Technologies by 31.3% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 56,909 shares of the technology company’s stock worth $451,000 after acquiring an additional 13,559 shares during the period. 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.