LightPath Technologies (NASDAQ:LPTH) Downgraded by Wall Street Zen to Sell

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

A number of other equities analysts also recently commented on LPTH. Canaccord Genuity Group lifted their target price 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. HC Wainwright increased their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Stock Down 15.3%

Shares of NASDAQ:LPTH opened at $14.93 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $13.51 and a two-hundred day moving average of $11.43. The stock has a market cap of $937.45 million, a P/E ratio of -29.86 and a beta of 1.33. LightPath Technologies has a 52-week low of $2.75 and a 52-week high of $18.94.

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

Insider Activity

In related 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 of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 4,287,258 shares of company stock worth $58,744,883. 24.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Portolan Capital Management LLC acquired a new stake in shares of LightPath Technologies during the third quarter valued at about $12,939,000. Tudor Investment Corp ET AL acquired a new position in shares of LightPath Technologies in the 3rd quarter worth approximately $8,445,000. Granahan Investment Management LLC acquired a new position in shares of LightPath Technologies in the 4th quarter worth approximately $7,085,000. AWM Investment Company Inc. boosted its position in shares of LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $3,669,000. Hedge funds and other 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.