LightPath Technologies (NASDAQ:LPTH) Shares Gap Up – Time to Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $9.39, but opened at $9.94. LightPath Technologies shares last traded at $10.12, with a volume of 565,762 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on LPTH shares. Canaccord Genuity Group decreased their price target 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. Piper Sandler started coverage on LightPath Technologies in a report on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price target for the company. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, LightPath Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $14.10.

LightPath Technologies Stock Up 7.1%

The firm has a 50-day simple moving average of $11.56 and a 200 day simple moving average of $12.67. The company has a market cap of $704.60 million, a price-to-earnings ratio of -25.15 and a beta of 1.39.

Institutional Trading of LightPath Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. TD Waterhouse Canada Inc. acquired a new stake in LightPath Technologies during the 2nd quarter worth $71,000. Royal Bank of Canada increased its stake in LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after purchasing an additional 8,380 shares during the period. PVG Asset Management Corp acquired a new position in LightPath Technologies in the first quarter valued at $108,000. Granite Investment Partners LLC purchased a new stake in shares of LightPath Technologies in the first quarter valued at about $123,000. Finally, T3 Companies LLC purchased a new stake in shares of LightPath Technologies in the fourth quarter valued at about $176,000. 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.