Piper Sandler Has Lowered Expectations for LightPath Technologies (NASDAQ:LPTH) Stock Price

LightPath Technologies (NASDAQ:LPTH) had its target price dropped by equities research analysts at Piper Sandler from $15.00 to $13.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler‘s target price would indicate a potential upside of 80.81% from the stock’s current price.

A number of other research firms have also commented on LPTH. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Finally, Canaccord Genuity Group lowered their target price on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.70.

LightPath Technologies Price Performance

Shares of LPTH stock traded up $0.17 during trading on Friday, reaching $7.19. The company had a trading volume of 985,568 shares, compared to its average volume of 3,119,428. The firm’s 50 day simple moving average is $10.41 and its two-hundred day simple moving average is $12.38. LightPath Technologies has a one year low of $5.83 and a one year high of $18.94. The company has a market capitalization of $503.59 million, a PE ratio of -17.98 and a beta of 1.38.

Institutional Trading of LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in LPTH. Inspire Investing LLC acquired a new stake in LightPath Technologies in the 3rd quarter valued at approximately $628,000. Lake Street Private Wealth LLC lifted its holdings in shares of LightPath Technologies by 35.6% during the third quarter. Lake Street Private Wealth LLC now owns 36,200 shares of the technology company’s stock worth $373,000 after buying an additional 9,500 shares during the last quarter. Hidden Cove Wealth Management LLC acquired a new position in shares of LightPath Technologies during the third quarter worth approximately $398,000. Tidal Investments LLC boosted its position in shares of LightPath Technologies by 10,315.1% in the second quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock valued at $31,925,000 after acquiring an additional 1,933,881 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of LightPath Technologies in the second quarter valued at approximately $835,000. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company’s products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths.

Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.