Wall Street Zen Upgrades LightPath Technologies (NASDAQ:LPTH) to Hold

LightPath Technologies (NASDAQ:LPTH) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. HC Wainwright lifted their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group started coverage on LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Lake Street Capital raised their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Stock Down 7.7%

Shares of NASDAQ LPTH opened at $11.52 on Friday. The stock has a market cap of $664.82 million, a PE ratio of -22.15 and a beta of 0.97. The company has a current ratio of 3.97, a quick ratio of 1.26 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 12-month low of $1.61 and a 12-month high of $15.24. The company has a 50-day moving average of $10.60 and a 200 day moving average of $7.91.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. grew its position in LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after purchasing an additional 5,223 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of LightPath Technologies by 11.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares during the period. Lake Street Private Wealth LLC purchased a new position in shares of LightPath Technologies during the fourth quarter worth about $108,000. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies in the 3rd quarter valued at about $82,000. Finally, Hudson Bay Capital Management LP acquired a new position in LightPath Technologies in the 3rd quarter valued at about $84,000. 56.29% of the stock is 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.