LightPath Technologies (NASDAQ:LPTH) Hits New 12-Month High – Still a Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.36 and last traded at $15.36, with a volume of 38541 shares trading hands. The stock had previously closed at $14.92.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LPTH shares. Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Canaccord Genuity Group started coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Finally, HC Wainwright upped their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus 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 current ratio of 3.97 and a quick ratio of 3.42. The company’s fifty day simple moving average is $11.60 and its two-hundred day simple moving average is $10.01. The stock has a market cap of $817.17 million, a price-to-earnings ratio of -27.23 and a beta of 1.07.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 302,352 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $12.31, for a total value of $3,721,953.12. Following the completion of the sale, the director owned 3,283,164 shares in the company, valued at $40,415,748.84. This represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 2,131,247 shares of company stock valued at $26,122,799. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

Several institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. grew its stake in shares of 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 acquiring an additional 592,500 shares in the last quarter. 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 worth $15,603,000 after acquiring an additional 72,208 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies in the 3rd quarter worth $12,939,000. Goldman Sachs Group Inc. grew its stake in shares of LightPath Technologies by 14.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock worth $15,656,000 after acquiring an additional 181,538 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of LightPath Technologies in the 3rd 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.