LightPath Technologies (NASDAQ:LPTH) Rating Lowered to Sell at Wall Street Zen

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 report issued to clients and investors on Saturday.

Several other research firms also recently weighed in on LPTH. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group initiated coverage on LightPath Technologies in a research report on Thursday. They set a “buy” rating and a $15.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. HC Wainwright raised their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.10.

LightPath Technologies Stock Down 9.3%

NASDAQ:LPTH opened at $10.42 on Friday. The company has a market cap of $474.42 million, a price-to-earnings ratio of -26.72 and a beta of 0.98. LightPath Technologies has a twelve month low of $1.61 and a twelve month high of $15.24. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $7.39.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. This represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 24.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On LightPath Technologies

A number of large investors have recently added to or reduced their stakes in LPTH. Thompson Davis & CO. Inc. boosted its position in shares of LightPath Technologies by 11.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after purchasing an additional 6,691 shares in the last quarter. Lake Street Private Wealth LLC acquired a new stake in LightPath Technologies in the fourth quarter worth about $108,000. Occudo Quantitative Strategies LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies during the third quarter valued at about $84,000. Finally, Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter valued at about $88,000. 56.29% of the stock is currently owned by 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.