LightPath Technologies, Inc. (NASDAQ:LPTH) Receives $14.13 Consensus Target Price from Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.1250.

Several research firms recently commented on LPTH. HC Wainwright boosted their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Canaccord Genuity Group upped their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note 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, May 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $14.28 on Friday. The stock has a market cap of $896.64 million, a PE ratio of -28.56 and a beta of 1.26. The company’s fifty day moving average is $12.32 and its 200 day moving average is $10.75. LightPath Technologies has a 52 week low of $2.26 and a 52 week high of $16.53. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The firm had revenue of $19.15 million for the quarter, compared to analysts’ expectations of $17.04 million. Research analysts anticipate that LightPath Technologies will post -0.11 earnings per share for the current year.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 165,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $12.16, for a total transaction of $2,006,400.00. Following the transaction, the director owned 2,990,112 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,828,726 shares of company stock worth $22,237,106 in the last 90 days. Corporate insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock worth $579,000 after purchasing an additional 3,276 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of LightPath Technologies by 45.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after purchasing an additional 5,223 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of LightPath Technologies by 11.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after purchasing an additional 6,691 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of LightPath Technologies by 41.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after purchasing an additional 8,380 shares in the last quarter. 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.