LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $7.00

LightPath Technologies (NASDAQ:LPTH) had its price objective boosted by HC Wainwright from $6.00 to $7.00 in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the technology company’s stock.

LPTH has been the topic of a number of other research reports. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Zacks Research raised LightPath Technologies to a “hold” rating in a report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

LightPath Technologies Trading Down 0.9%

LPTH opened at $5.67 on Thursday. LightPath Technologies has a 12-month low of $1.04 and a 12-month high of $6.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.30 and a quick ratio of 1.26. The stock has a market capitalization of $252.03 million, a PE ratio of -21.81 and a beta of 1.10. The firm’s fifty day moving average price is $3.71 and its 200 day moving average price is $2.84.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. acquired a new position in LightPath Technologies during the 2nd quarter valued at about $134,000. Mink Brook Asset Management LLC acquired a new stake in shares of LightPath Technologies in the 2nd quarter worth approximately $246,000. Marathon Capital Management bought a new position in shares of LightPath Technologies in the second quarter valued at approximately $54,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies during the second quarter valued at approximately $79,000. Finally, Wealth Effects LLC raised its holdings in LightPath Technologies by 5.8% during the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock worth $419,000 after purchasing an additional 7,500 shares in the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.