LightPath Technologies (NASDAQ:LPTH) Trading 6.7% Higher – Here’s Why

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) traded up 6.7% during mid-day trading on Friday . The stock traded as high as $13.52 and last traded at $12.98. 549,678 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 2,653,341 shares. The stock had previously closed at $12.16.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. HC Wainwright boosted their price objective on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.10.

LightPath Technologies Stock Performance

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 firm’s 50 day moving average is $11.18 and its 200-day moving average is $9.77. The stock has a market capitalization of $740.42 million, a price-to-earnings ratio of -24.67 and a beta of 1.07.

Insiders Place Their Bets

In related news, Director Run Strategic Opportunit North sold 595,573 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $12.53, for a total value of $7,462,529.69. Following the completion of the transaction, the director owned 3,393,395 shares of the company’s stock, valued at approximately $42,519,239.35. This represents a 14.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,131,247 shares of company stock valued at $26,122,799. Corporate insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

Large investors have recently bought and sold shares of the business. Lake Street Private Wealth LLC acquired a new position in LightPath Technologies in the 4th quarter worth about $108,000. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies during the third quarter worth $82,000. Hudson Bay Capital Management LP acquired a new position in LightPath Technologies during the third quarter worth $84,000. Wexford Capital LP acquired a new position in LightPath Technologies during the third quarter worth $88,000. Finally, Jefferies Financial Group Inc. acquired a new position in LightPath Technologies during the third quarter worth $90,000. Institutional investors and hedge funds 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.