LightPath Technologies (NASDAQ:LPTH) Trading Down 7.6% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) fell 7.6% during mid-day trading on Wednesday . The stock traded as low as $13.14 and last traded at $13.14. 453,514 shares traded hands during trading, a decline of 85% from the average session volume of 3,105,451 shares. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LPTH. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research note on Monday, July 27th. Finally, Piper Sandler assumed coverage on shares of LightPath Technologies in a report on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price target for the company. One investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.30.

LightPath Technologies Price Performance

The company has a market capitalization of $851.43 million, a P/E ratio of -27.12 and a beta of 1.39. 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 business has a 50 day simple moving average of $12.97 and a 200-day simple moving average of $12.70.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.80% of the stock is owned by insiders.

Institutional Trading of LightPath Technologies

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in shares of LightPath Technologies by 6.0% during the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock worth $579,000 after buying an additional 3,276 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in LightPath Technologies by 45.8% during the fourth 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. OMERS ADMINISTRATION Corp boosted its stake in LightPath Technologies by 41.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock valued at $307,000 after purchasing an additional 8,300 shares in the last quarter. Royal Bank of Canada increased its position in shares of LightPath Technologies by 707.2% during the 1st 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. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of LightPath Technologies in the 3rd quarter worth $82,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.