LightPath Technologies (NASDAQ:LPTH) Shares Gap Down – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) shares gapped down prior to trading on Friday . The stock had previously closed at $13.60, but opened at $13.02. LightPath Technologies shares last traded at $13.2960, with a volume of 387,492 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LPTH. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Lake Street Capital boosted their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. HC Wainwright upped their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Stock Down 11.8%

The company has a market capitalization of $692.52 million, a PE ratio of -23.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The company’s 50-day moving average is $10.92 and its 200 day moving average is $8.25.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the business’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 completion of the transaction, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. The trade was a 22.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.80% of the stock is owned by company insiders.

Institutional Trading of LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Lake Street Private Wealth LLC purchased a new stake in shares of LightPath Technologies during the fourth quarter valued at $108,000. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies during the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP purchased a new stake in shares of LightPath Technologies during the 3rd quarter valued at about $84,000. Wexford Capital LP bought a new stake in shares of LightPath Technologies in the third quarter worth approximately $88,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies during the third quarter valued at approximately $90,000. Institutional investors own 56.29% of the company’s stock.

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.