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

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.10.

A number of research firms have commented on LPTH. Lake Street Capital lifted 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. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target on the stock. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, HC Wainwright lifted their price target on LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th.

LightPath Technologies Stock Down 3.6%

Shares of NASDAQ:LPTH opened at $9.06 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. LightPath Technologies has a fifty-two week low of $1.61 and a fifty-two week high of $15.24. The stock has a market cap of $412.50 million, a price-to-earnings ratio of -23.23 and a beta of 0.97. The firm’s 50 day moving average price is $10.23 and its 200 day moving average price is $7.58.

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 dated 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Marathon Capital Management purchased a new position in shares of LightPath Technologies during the second quarter valued at approximately $54,000. J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies in the 2nd quarter valued at $79,000. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies in the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP purchased a new position in shares of LightPath Technologies during the 3rd quarter worth $84,000. Finally, Wexford Capital LP acquired a new stake in shares of LightPath Technologies during the third quarter worth $88,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.