LightPath Technologies (NASDAQ:LPTH) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of LightPath Technologies (NASDAQ:LPTH) in a research note released on Thursday, MarketBeat reports. The firm issued a buy rating and a $15.00 price objective on the technology company’s stock.

LPTH has been the subject of several other research reports. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. HC Wainwright raised their price objective on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Lake Street Capital upped their price objective on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.10.

LightPath Technologies Stock Up 1.9%

Shares of LPTH opened at $11.49 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. The stock has a market capitalization of $523.14 million, a price-to-earnings ratio of -29.46 and a beta of 0.98. LightPath Technologies has a 1 year low of $1.61 and a 1 year high of $15.24. The business’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $7.34.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction on 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 transaction, the director owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marathon Capital Management bought a new stake in shares of LightPath Technologies in the 2nd quarter valued at about $54,000. J.W. Cole Advisors Inc. bought a new position in shares of LightPath Technologies during the second quarter valued at approximately $79,000. Occudo Quantitative Strategies LP purchased a new position in LightPath Technologies during the third quarter valued at approximately $82,000. Hudson Bay Capital Management LP bought a new position in LightPath Technologies in the third quarter worth approximately $84,000. Finally, Wexford Capital LP bought a new position in LightPath Technologies in the third quarter worth approximately $88,000. 56.29% of the stock is currently owned by institutional investors.

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.