Brokerages Set LightPath Technologies, Inc. (NASDAQ:LPTH) Price Target at $12.10

LightPath Technologies, Inc. (NASDAQ:LPTH) has been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $12.10.

A number of research firms recently issued reports on LPTH. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target for the company. Finally, HC Wainwright lifted their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the transaction, the director owned 2,728,968 shares in the company, valued at $31,983,504.96. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,901,568 shares of company stock worth $35,150,961. Corporate insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in LightPath Technologies in the 2nd quarter valued at about $79,000. Marathon Capital Management acquired a new stake in LightPath Technologies in the 2nd quarter valued at about $54,000. Mink Brook Asset Management LLC purchased a new position in LightPath Technologies during the 2nd quarter valued at about $246,000. Finally, Calamos Advisors LLC purchased a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $1,322,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Down 1.9%

LPTH stock opened at $9.31 on Friday. The company has a market cap of $537.28 million, a price-to-earnings ratio of -17.90 and a beta of 0.98. The company has a fifty day moving average price of $11.33 and a 200 day moving average price of $9.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. LightPath Technologies has a 12 month low of $1.61 and a 12 month high of $15.24.

About LightPath Technologies

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.