LightPath Technologies (NASDAQ:LPTH) Trading Down 7.8% – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price was down 7.8% during trading on Friday . The stock traded as low as $13.26 and last traded at $13.2150. Approximately 515,891 shares were traded during trading, a decline of 84% from the average daily volume of 3,172,336 shares. The stock had previously closed at $14.33.

Analysts Set New Price Targets

Several equities research analysts recently commented on LPTH shares. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Lake Street Capital raised their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, HC Wainwright lifted their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.13.

LightPath Technologies Stock Down 9.0%

The firm has a market capitalization of $593.53 million, a price-to-earnings ratio of -33.43 and a beta of 0.98. The business’s 50 day moving average is $9.43 and its 200-day moving average is $7.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98.

Insider Buying and Selling at LightPath Technologies

In other LightPath Technologies 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 transaction of $9,028,162.12. Following the completion of the transaction, the director directly 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Marathon Capital Management bought a new stake in LightPath Technologies in the 2nd quarter valued at about $54,000. J.W. Cole Advisors Inc. bought a new stake in shares of LightPath Technologies in the second quarter valued at approximately $79,000. Occudo Quantitative Strategies LP acquired a new stake in LightPath Technologies during the third quarter worth approximately $82,000. Hudson Bay Capital Management LP bought a new position in LightPath Technologies during the 3rd quarter worth $84,000. Finally, Wexford Capital LP acquired a new position in LightPath Technologies in the 3rd quarter valued at $88,000. 56.29% of the stock is 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.