LightPath Technologies (NASDAQ:LPTH) Sees Strong Trading Volume – Should You Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH) saw an uptick in trading volume on Monday . 2,404,114 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 2,710,996 shares.The stock last traded at $12.54 and had previously closed at $16.09.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LPTH. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. HC Wainwright boosted their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Lake Street Capital boosted their target price on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.75.

LightPath Technologies Price Performance

The business has a 50-day simple moving average of $12.03 and a 200 day simple moving average of $10.32. The firm has a market cap of $732.90 million, a P/E ratio of -24.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 595,573 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the completion of the transaction, the director owned 3,393,395 shares of the company’s stock, valued at $42,519,239.35. This represents a 14.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 2,131,247 shares of company stock worth $26,122,799. Corporate insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. raised its position in LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after purchasing an additional 592,500 shares during the last quarter. Vanguard Group Inc. raised its position in LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after purchasing an additional 72,208 shares during the last quarter. Portolan Capital Management LLC bought a new position in LightPath Technologies during the 3rd quarter valued at approximately $12,939,000. Goldman Sachs Group Inc. raised its position in LightPath Technologies by 14.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after purchasing an additional 181,538 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in LightPath Technologies during the 3rd quarter valued at approximately $8,445,000. 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.