LightPath Technologies (NASDAQ:LPTH) Rating Lowered to Sell at Wall Street Zen

LightPath Technologies (NASDAQ:LPTH) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

LPTH has been the topic of several other research reports. Piper Sandler began coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price target on the stock. Canaccord Genuity Group lowered their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $14.10.

LightPath Technologies Trading Up 3.0%

NASDAQ:LPTH opened at $10.20 on Friday. The company has a market cap of $714.41 million, a price-to-earnings ratio of -25.50 and a beta of 1.39. LightPath Technologies has a twelve month low of $5.83 and a twelve month high of $18.94. The stock has a fifty day simple moving average of $11.46 and a 200-day simple moving average of $12.64.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its holdings 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 in the last quarter. WINTON GROUP Ltd bought a new position in LightPath Technologies during the 2nd quarter worth about $835,000. RFG Advisory LLC purchased a new position in LightPath Technologies during the 2nd quarter valued at about $5,879,000. FirstWave Capital Management LLC purchased a new position in LightPath Technologies during the 2nd quarter valued at about $1,700,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of LightPath Technologies in the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company Profile

LightPath Technologies, Inc is a photonics company that designs, manufactures, and supplies optical components and systems for use in defense, aerospace, industrial, telecommunications, medical, and other technology applications. The company focuses on infrared and visible-spectrum optical solutions, serving customers that require precision imaging, sensing, and laser-related technologies.

Its products and services include precision-molded glass aspheric lenses, infrared optics, optical assemblies, imaging systems, and custom-engineered photonics solutions.