LightPath Technologies (NASDAQ:LPTH) Stock Price Down 11% – Should You Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price was down 11% during mid-day trading on Tuesday . The stock traded as low as $11.33 and last traded at $11.40. Approximately 1,489,488 shares changed hands during trading, a decline of 48% from the average daily volume of 2,841,505 shares. The stock had previously closed at $12.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LPTH shares. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Canaccord Genuity Group boosted their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Monday. Finally, HC Wainwright lifted their price objective on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Price Performance

The stock has a market cap of $762.90 million, a P/E ratio of -24.30 and a beta of 1.26. The company has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $10.59. The company has a current ratio of 3.86, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $19.15 million for the quarter, compared to analysts’ expectations of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. Sell-side analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 165,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.16, for a total value of $2,006,400.00. Following the sale, the director owned 2,990,112 shares in the company, valued at approximately $36,359,761.92. The trade was a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 2,424,299 shares of company stock valued at $29,699,636. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors have recently bought and sold shares of LPTH. SG Americas Securities LLC raised its stake in shares of LightPath Technologies by 6.0% during the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock worth $579,000 after purchasing an additional 3,276 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in shares of LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after purchasing an additional 5,223 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of LightPath Technologies by 11.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after purchasing an additional 6,691 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of LightPath Technologies by 41.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Lake Street Private Wealth LLC bought a new stake in shares of LightPath Technologies during the 4th quarter worth approximately $108,000. Institutional investors own 56.29% of the company’s stock.

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.