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

LightPath Technologies, Inc. (NASDAQ:LPTH) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.1250.

Several brokerages recently commented on LPTH. HC Wainwright raised their price objective on LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. LADENBURG THALM/SH SH increased their price target on LightPath Technologies from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Lake Street Capital lifted their price objective on LightPath Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th.

LightPath Technologies Stock Down 6.1%

Shares of NASDAQ:LPTH opened at $6.88 on Thursday. LightPath Technologies has a 52 week low of $1.61 and a 52 week high of $10.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98. The company has a market capitalization of $313.25 million, a PE ratio of -17.64 and a beta of 1.08. The company has a 50 day moving average price of $7.88 and a two-hundred day moving average price of $5.60.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LPTH. Portolan Capital Management LLC bought a new stake in LightPath Technologies in the 3rd quarter valued at $12,939,000. Tudor Investment Corp ET AL acquired a new stake in shares of LightPath Technologies in the 3rd quarter valued at about $8,445,000. Russell Investments Group Ltd. bought a new stake in shares of LightPath Technologies in the third quarter valued at about $3,669,000. Calamos Advisors LLC acquired a new position in shares of LightPath Technologies during the third quarter worth about $1,322,000. Finally, Principal Financial Group Inc. acquired a new position in shares of LightPath Technologies during the third quarter worth about $953,000. 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.