LightPath Technologies (NASDAQ:LPTH) Stock Price Down 6.3% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) dropped 6.3% during trading on Friday . The company traded as low as $14.44 and last traded at $14.66. Approximately 428,221 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,142,437 shares. The stock had previously closed at $15.64.

Analysts Set New Price Targets

LPTH has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. HC Wainwright raised their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Trading Down 5.7%

The stock has a market capitalization of $926.15 million, a PE ratio of -29.50 and a beta of 1.33. The firm has a 50-day moving average price of $13.90 and a 200-day moving average price of $11.70. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 15.55% and a negative net margin of 37.38%. As a group, equities analysts forecast that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 4,287,258 shares of company stock worth $58,744,883. 24.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies in the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP bought a new position in LightPath Technologies in the 3rd quarter worth about $84,000. Wexford Capital LP bought a new position in LightPath Technologies in the 3rd quarter worth about $88,000. Jefferies Financial Group Inc. bought a new position in LightPath Technologies in the 3rd quarter worth about $90,000. Finally, Royal Bank of Canada boosted its stake in LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after purchasing an additional 8,380 shares during the period. 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.