LightPath Technologies (NASDAQ:LPTH) Hits New 52-Week High – Still a Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.22 and last traded at $11.1270, with a volume of 1372085 shares traded. The stock had previously closed at $10.56.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Lake Street Capital upped their price objective on shares of LightPath Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. HC Wainwright boosted their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LightPath Technologies has a consensus rating of “Moderate Buy” and an average target price of $9.13.

LightPath Technologies Trading Up 4.0%

The firm has a market cap of $500.01 million, a P/E ratio of -28.04 and a beta of 1.08. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average price is $7.90 and its two-hundred day moving average price is $5.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. bought a new position in LightPath Technologies in the 2nd quarter worth approximately $134,000. Wealth Effects LLC increased its stake in shares of LightPath Technologies by 5.8% in the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock valued at $419,000 after buying an additional 7,500 shares during the period. Granite Investment Partners LLC bought a new stake in shares of LightPath Technologies during the third quarter worth $106,000. Principal Financial Group Inc. acquired a new position in shares of LightPath Technologies during the third quarter valued at $953,000. Finally, SG Americas Securities LLC acquired a new position in shares of LightPath Technologies during the third quarter valued at $139,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.