LightPath Technologies (NASDAQ:LPTH) Stock Price Down 7.8% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) traded down 7.8% during trading on Friday . The company traded as low as $13.26 and last traded at $13.2150. 515,891 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,172,336 shares. The stock had previously closed at $14.33.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday. HC Wainwright upped their target price on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.13.

LightPath Technologies Stock Performance

The stock has a market capitalization of $566.39 million, a PE ratio of -31.90 and a beta of 0.98. 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 firm has a 50 day moving average of $9.54 and a 200-day moving average of $7.15.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the transaction, the director owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently modified their holdings of LPTH. Vanguard Group Inc. raised its holdings 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 in the last quarter. Portolan Capital Management LLC acquired a new position in LightPath Technologies in the 3rd quarter worth about $12,939,000. Tudor Investment Corp ET AL purchased a new stake in shares of LightPath Technologies during the 3rd quarter worth about $8,445,000. Russell Investments Group Ltd. acquired a new stake in shares of LightPath Technologies during the 3rd quarter valued at about $3,669,000. Finally, HUB Investment Partners LLC grew its stake in shares of LightPath Technologies by 141.0% in the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock valued at $1,586,000 after buying an additional 117,000 shares in the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Company Profile

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.