LightPath Technologies (NASDAQ:LPTH) Hits New 1-Year High Following Analyst Upgrade

LightPath Technologies, Inc. (NASDAQ:LPTH) reached a new 52-week high on Tuesday after Lake Street Capital raised their price target on the stock from $10.00 to $14.00. Lake Street Capital currently has a buy rating on the stock. LightPath Technologies traded as high as $12.10 and last traded at $11.69, with a volume of 2808294 shares changing hands. The stock had previously closed at $11.72.

LPTH has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. HC Wainwright upped their price objective on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given 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 price target of $10.13.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the sale, the director owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LPTH. Lake Street Private Wealth LLC purchased a new position in shares of LightPath Technologies in the fourth quarter valued at approximately $108,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies during the 3rd quarter worth approximately $82,000. Hudson Bay Capital Management LP acquired a new stake in LightPath Technologies during the 3rd quarter worth approximately $84,000. Wexford Capital LP purchased a new position in LightPath Technologies in the 3rd quarter valued at approximately $88,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies in the third quarter worth $90,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Trading Up 5.9%

The company’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $6.33. 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 firm has a market cap of $555.47 million, a price-to-earnings ratio of -31.28 and a beta of 0.98.

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.