Wall Street Zen Downgrades LightPath Technologies (NASDAQ:LPTH) 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 research note issued to investors on Friday.

A number of other equities analysts have also recently commented on the stock. Lake Street Capital lifted their target price on shares of LightPath Technologies from $4.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday. Zacks Research upgraded shares of LightPath Technologies to a “hold” rating in a research report on Tuesday, August 12th. Finally, HC Wainwright increased their price target on shares of LightPath Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday. Four 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, LightPath Technologies has an average rating of “Moderate Buy” and an average price target of $6.50.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $7.90 on Friday. The stock has a market cap of $351.16 million, a PE ratio of -21.94 and a beta of 1.10. The company’s fifty day moving average is $4.67 and its 200 day moving average is $3.27. LightPath Technologies has a 52 week low of $1.35 and a 52 week high of $8.15. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP lifted its position in shares of LightPath Technologies by 4.7% in the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock worth $2,602,000 after purchasing an additional 58,194 shares during the period. Wealth Effects LLC lifted its position in shares of LightPath Technologies by 5.8% in the 2nd 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 during the period. Mink Brook Asset Management LLC purchased a new stake in shares of LightPath Technologies in the 2nd quarter worth about $246,000. Northern Trust Corp lifted its position in shares of LightPath Technologies by 25.7% in the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company’s stock worth $226,000 after purchasing an additional 13,087 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after purchasing an additional 29,054 shares during the period. 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.