LightPath Technologies (NASDAQ:LPTH) Stock Price Down 9.1% – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price traded down 9.1% during mid-day trading on Friday . The stock traded as low as $16.32 and last traded at $16.49. Approximately 2,044,168 shares changed hands during trading, a decline of 33% from the average session volume of 3,041,505 shares. The stock had previously closed at $18.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Monday. HC Wainwright lifted 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, Canaccord Genuity Group lifted their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $14.13.

LightPath Technologies Stock Down 6.2%

The business’s fifty day simple moving average is $12.94 and its 200 day simple moving average is $11.08. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -34.06 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $17.04 million. Equities analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 165,000 shares of LightPath Technologies stock in a transaction 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 completion of the sale, the director owned 2,990,112 shares of the company’s stock, valued at approximately $36,359,761.92. The trade was a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 1,390,853 shares of company stock worth $16,925,923. 24.80% of the stock is currently owned by insiders.

Institutional Trading of LightPath Technologies

A number of institutional investors have recently bought and sold shares of LPTH. SG Americas Securities LLC grew its holdings 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 valued at $579,000 after buying an additional 3,276 shares during the period. Jefferies Financial Group Inc. grew its holdings 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 valued at $180,000 after buying an additional 5,223 shares during the period. Thompson Davis & CO. Inc. grew its holdings 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 valued at $687,000 after buying an additional 6,691 shares during the period. OMERS ADMINISTRATION Corp grew its holdings 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 valued at $307,000 after buying an additional 8,300 shares during the period. Finally, Royal Bank of Canada grew its holdings 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 valued at $96,000 after buying an additional 8,380 shares during the period. Institutional investors and hedge funds 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.