LightPath Technologies (NASDAQ:LPTH) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of LightPath Technologies (NASDAQ:LPTH) from a sell rating to a hold rating in a research note published on Saturday.

A number of other equities analysts also recently commented on LPTH. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. HC Wainwright upped their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group assumed coverage on LightPath Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.75.

LightPath Technologies Stock Down 4.3%

Shares of NASDAQ:LPTH opened at $11.51 on Friday. LightPath Technologies has a 52-week low of $2.21 and a 52-week high of $16.53. The stock has a market cap of $664.24 million, a P/E ratio of -23.02 and a beta of 1.26. The business’s 50 day moving average is $12.07 and its 200 day moving average is $10.44. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 20.69%. Sell-side analysts predict that LightPath Technologies will post -0.11 EPS for the current year.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 302,352 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $12.31, for a total value of $3,721,953.12. Following the sale, the director directly owned 3,283,164 shares of the company’s stock, valued at approximately $40,415,748.84. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,131,247 shares of company stock valued at $26,122,799 over the last 90 days. 24.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. boosted its holdings in LightPath Technologies by 40.9% in the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after purchasing an additional 592,500 shares during the last quarter. Vanguard Group Inc. boosted its holdings in LightPath Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after purchasing an additional 72,208 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in LightPath Technologies in the third quarter valued at $12,939,000. Goldman Sachs Group Inc. boosted its holdings in LightPath Technologies by 14.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after purchasing an additional 181,538 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the third quarter valued at $8,445,000. 56.29% of the stock is owned by hedge funds and other 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.