LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Average Recommendation of “Moderate Buy” from Analysts

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.1250.

Several brokerages recently weighed in on LPTH. HC Wainwright raised their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Canaccord Genuity Group raised their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st.

Insiders Place Their Bets

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 transaction, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,287,258 shares of company stock worth $58,744,883 over the last ninety days. Company insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LPTH. Portolan Capital Management LLC bought a new position in 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 valued at $8,445,000. Granahan Investment Management LLC acquired a new position in shares of LightPath Technologies in the 4th quarter valued at $7,085,000. AWM Investment Company Inc. boosted its position in shares of LightPath Technologies by 40.9% in the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after purchasing an additional 592,500 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $3,669,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Trading Up 1.5%

NASDAQ:LPTH opened at $14.28 on Thursday. LightPath Technologies has a 1 year low of $2.75 and a 1 year high of $18.94. The stock has a market cap of $896.64 million, a price-to-earnings ratio of -28.56 and a beta of 1.33. The business has a fifty day moving average of $13.78 and a 200-day moving average of $11.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86.

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

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.