LightPath Technologies (NASDAQ:LPTH) Stock Price Down 4.8% – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) shares traded down 4.8% on Wednesday . The stock traded as low as $13.11 and last traded at $13.22. 773,788 shares traded hands during trading, a decline of 73% from the average session volume of 2,902,654 shares. The stock had previously closed at $13.88.

Analyst Ratings Changes

A number of analysts have commented on LPTH shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Canaccord Genuity Group upped their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday. Finally, HC Wainwright upped their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.13.

LightPath Technologies Trading Down 3.7%

The firm has a market capitalization of $838.86 million, a PE ratio of -26.72 and a beta of 1.26. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $12.21 and its 200 day simple moving average is $10.68.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. On average, sell-side analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 165,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.16, for a total value of $2,006,400.00. Following the completion of the sale, the director directly owned 2,990,112 shares of the company’s stock, valued at $36,359,761.92. This represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 2,424,299 shares of company stock valued at $29,699,636 over the last three months. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Portolan Capital Management LLC purchased a new stake in shares of LightPath Technologies in the third quarter worth $12,939,000. Tudor Investment Corp ET AL purchased a new stake in shares of LightPath Technologies in the third quarter worth $8,445,000. Granahan Investment Management LLC purchased a new stake in shares of LightPath Technologies in the fourth quarter worth $7,085,000. AWM Investment Company Inc. increased its stake in shares of LightPath Technologies by 40.9% in the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of LightPath Technologies in the third quarter worth $3,669,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

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.