Lake Street Capital Boosts LightPath Technologies (NASDAQ:LPTH) Price Target to $7.50

LightPath Technologies (NASDAQ:LPTH) had its price target hoisted by equities research analysts at Lake Street Capital from $4.00 to $7.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective points to a potential downside of 5.06% from the stock’s current price.

Several other analysts have also commented on the stock. Zacks Research upgraded shares of LightPath Technologies to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, HC Wainwright upped their price target on LightPath Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

LightPath Technologies Stock Up 21.5%

Shares of NASDAQ LPTH opened at $7.90 on Friday. The firm has a fifty day simple moving average of $4.67 and a two-hundred day simple moving average of $3.27. LightPath Technologies has a 12 month low of $1.35 and a 12 month high of $8.15. The company has a current ratio of 2.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $351.16 million, a PE ratio of -21.94 and a beta of 1.10.

Institutional Investors Weigh In On LightPath Technologies

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

About LightPath Technologies

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.