LightPath Technologies (NASDAQ:LPTH) Shares Gap Up – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.23, but opened at $14.05. LightPath Technologies shares last traded at $14.6330, with a volume of 906,045 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on LPTH. HC Wainwright increased 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. Lake Street Capital raised their target price on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $10.13.

LightPath Technologies Price Performance

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 $572.31 million, a price-to-earnings ratio of -32.23 and a beta of 0.98. The stock’s fifty day moving average price is $8.93 and its 200-day moving average price is $6.76.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction 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 completion of the sale, the director owned 2,728,968 shares in the company, valued at $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its position in LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares during the period. Wealth Effects LLC grew its position in LightPath Technologies by 5.8% during the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock valued at $419,000 after purchasing an additional 7,500 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in LightPath Technologies in the 2nd quarter valued at approximately $137,000. J.W. Cole Advisors Inc. purchased a new stake in LightPath Technologies in the 2nd quarter worth approximately $79,000. Finally, Marathon Capital Management acquired a new stake in shares of LightPath Technologies during the 2nd quarter valued at $54,000. 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.