LightPath Technologies, Inc. (LPTH) – What Are Brokerages Thinking About This Stock?

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $13.70.

Several research firms have issued reports on LPTH. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Canaccord Genuity Group reduced their price target on shares of LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, October 15th. Finally, Piper Sandler decreased their price target on shares of LightPath Technologies from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its position in LightPath Technologies by 297.3% during the third quarter. Allworth Financial LP now owns 4,009 shares of the technology company’s stock worth $41,000 after acquiring an additional 3,000 shares during the last quarter. Compass Financial Management LLC purchased a new stake in LightPath Technologies during the 3rd quarter valued at about $35,000. TD Waterhouse Canada Inc. purchased a new stake in LightPath Technologies during the 2nd quarter valued at about $71,000. Pekin Hardy Strauss Inc. raised its holdings in LightPath Technologies by 16.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 46,100 shares of the technology company’s stock valued at $475,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings 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 valued at $96,000 after acquiring an additional 8,380 shares during the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Trading Up 14.8%

Shares of LPTH opened at $7.06 on Friday. The stock’s 50 day moving average is $9.11 and its two-hundred day moving average is $11.79. LightPath Technologies has a 12 month low of $5.83 and a 12 month high of $18.94. The firm has a market cap of $494.84 million, a P/E ratio of -17.65 and a beta of 1.53.

LightPath Technologies Company Profile

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.