LightPath Technologies (NASDAQ:LPTH) Downgraded by Wall Street Zen to Sell

LightPath Technologies (NASDAQ:LPTH) was downgraded by 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.

LPTH has been the subject of several other research reports. HC Wainwright lifted their price objective on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Lake Street Capital increased their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Canaccord Genuity Group began coverage on shares of LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.10.

LightPath Technologies Stock Performance

NASDAQ:LPTH opened at $10.98 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. The business has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $9.58. LightPath Technologies has a 1 year low of $1.61 and a 1 year high of $15.24. The company has a market capitalization of $633.66 million, a P/E ratio of -21.12 and a beta of 1.07.

Insiders Place Their Bets

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 2,901,568 shares of company stock worth $35,150,961. 24.80% of the stock is owned by insiders.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% in the 4th 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of LightPath Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after purchasing an additional 72,208 shares during the period. Portolan Capital Management LLC bought a new position in shares of LightPath Technologies in the third quarter worth $12,939,000. Goldman Sachs Group Inc. raised its position in shares of LightPath Technologies by 14.3% in the fourth 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 in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of LightPath Technologies in the third quarter worth $8,445,000. Institutional investors own 56.29% of the company’s stock.

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.