LightPath Technologies (NASDAQ:LPTH) Trading Up 10.5% – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH) traded up 10.5% during trading on Thursday . The stock traded as high as $12.48 and last traded at $12.4240. 708,819 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,193,545 shares. The stock had previously closed at $11.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. HC Wainwright raised their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Canaccord Genuity Group began coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Lake Street Capital lifted their target price on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Stock Up 14.2%

The company has a market capitalization of $740.82 million, a price-to-earnings ratio of -24.77 and a beta of 0.97. The business has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $8.12. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the completion of the transaction, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 24.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds have recently made changes to their positions in the company. Marathon Capital Management bought a new position in LightPath Technologies during the 2nd quarter valued at about $54,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter worth approximately $79,000. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies in the 3rd quarter worth approximately $82,000. Hudson Bay Capital Management LP bought a new stake in LightPath Technologies during the 3rd quarter worth approximately $84,000. Finally, Wexford Capital LP acquired a new stake in LightPath Technologies during the 3rd quarter valued at $88,000. Institutional investors and hedge funds 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.