LightPath Technologies (NASDAQ:LPTH) Trading Down 10.4% – Time to Sell?

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) traded down 10.4% during trading on Friday . The company traded as low as $9.83 and last traded at $9.85. 968,727 shares were traded during trading, a decline of 65% from the average session volume of 2,786,011 shares. The stock had previously closed at $10.99.

Analyst Ratings Changes

Several brokerages have recently issued reports on LPTH. Lake Street Capital raised 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. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group assumed coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target for the company. HC Wainwright raised their price target 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. 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 assigned a Sell rating to the company. According to MarketBeat, LightPath Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

LightPath Technologies Price Performance

The company has a market cap of $547.67 million, a price-to-earnings ratio of -18.25 and a beta of 0.98. The company has a fifty day moving average price of $11.40 and a two-hundred day moving average price of $9.44. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction dated 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 directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This trade represents a 22.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 2,901,568 shares of company stock valued at $35,150,961. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPTH. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares during the period. Vanguard Group Inc. grew its stake in shares of LightPath Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after purchasing an additional 72,208 shares during the period. Portolan Capital Management LLC acquired a new position in shares of LightPath Technologies in the 3rd quarter worth approximately $12,939,000. Goldman Sachs Group Inc. lifted its position in shares of LightPath Technologies by 14.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock worth $15,656,000 after buying an additional 181,538 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the 3rd quarter valued at $8,445,000. 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.