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

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

A number of other brokerages have also weighed in on LPTH. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday. They issued a “buy” rating and a $15.00 price objective on the stock. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. HC Wainwright increased their price objective on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Lake Street Capital raised their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. One 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’s stock. According to MarketBeat.com, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $11.10.

LightPath Technologies Price Performance

NASDAQ LPTH opened at $10.42 on Friday. The company has a market cap of $474.42 million, a price-to-earnings ratio of -26.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. The stock’s fifty day moving average price is $9.98 and its 200 day moving average price is $7.39. LightPath Technologies has a 1 year low of $1.61 and a 1 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 on Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 24.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after acquiring an additional 72,208 shares in the last quarter. Portolan Capital Management LLC acquired a new position in LightPath Technologies in the 3rd quarter worth about $12,939,000. Tudor Investment Corp ET AL purchased a new position in LightPath Technologies during the third quarter worth approximately $8,445,000. Russell Investments Group Ltd. acquired a new stake in LightPath Technologies in the third quarter valued at approximately $3,669,000. Finally, HUB Investment Partners LLC increased its position 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 valued at $1,586,000 after buying an additional 117,000 shares in the last quarter. 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.