LightPath Technologies (NASDAQ:LPTH) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.94 and traded as high as $10.55. LightPath Technologies shares last traded at $10.29, with a volume of 4,350,348 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LPTH shares. HC Wainwright increased their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Lake Street Capital upped their price objective on LightPath Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, LightPath Technologies currently has an average rating of “Moderate Buy” and an average price target of $9.13.

LightPath Technologies Stock Performance

The business has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $5.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. The firm has a market cap of $468.50 million, a PE ratio of -26.38 and a beta of 1.08.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of LightPath Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after acquiring an additional 72,208 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in shares of LightPath Technologies in the third quarter worth about $12,939,000. Tudor Investment Corp ET AL bought a new position in LightPath Technologies during the third quarter valued at approximately $8,445,000. Russell Investments Group Ltd. purchased a new position in LightPath Technologies during the 3rd quarter valued at approximately $3,669,000. Finally, HUB Investment Partners LLC increased its stake in LightPath Technologies by 141.0% in the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after acquiring an additional 117,000 shares during the last quarter. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

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.