LightPath Technologies, Inc. (NASDAQ:LPTH) Given Average Rating of “Moderate Buy” by Brokerages

LightPath Technologies, Inc. (NASDAQ:LPTH) has earned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.1250.

A number of research analysts have recently commented on LPTH shares. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Canaccord Genuity Group lifted their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th.

LightPath Technologies Price Performance

Shares of LPTH stock opened at $14.56 on Monday. The stock has a 50 day moving average price of $14.42 and a 200 day moving average price of $12.44. LightPath Technologies has a 52-week low of $2.75 and a 52-week high of $18.94. 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 $914.22 million, a P/E ratio of -29.12 and a beta of 1.34.

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

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 3,864,452 shares of company stock worth $53,576,437 over the last 90 days. Company insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. PVG Asset Management Corp bought a new stake in LightPath Technologies during the 1st quarter valued at $108,000. Bank of America Corp DE grew its position in shares of LightPath Technologies by 118.2% during the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock worth $5,577,000 after buying an additional 301,225 shares in the last quarter. Royal Bank of Canada increased its stake in shares of LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after buying an additional 8,380 shares during the period. Union Square Park Capital Management LLC purchased a new position in shares of LightPath Technologies during the first quarter valued at $502,000. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in shares of LightPath Technologies in the first quarter valued at about $535,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.