LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

LightPath Technologies, Inc. (NASDAQ:LPTH) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.30.

LPTH has been the topic of a number of research reports. Piper Sandler assumed coverage on shares of LightPath Technologies in a report on Wednesday, August 12th. They set an “overweight” rating and a $15.00 target price on the stock. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $16.50 target price on shares of LightPath Technologies in a report on Monday, July 27th.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the sale, the director directly owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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. AWM Investment Company Inc. acquired a new stake in LightPath Technologies in the second quarter worth $41,488,000. Tema ETFs LLC lifted its stake in LightPath Technologies by 129,258.4% in the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock valued at $32,487,000 after buying an additional 1,985,409 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of LightPath Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after acquiring an additional 72,208 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of LightPath Technologies by 14.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after acquiring an additional 181,538 shares during the period. Finally, AIGH Capital Management LLC grew its position in shares of LightPath Technologies by 14.5% during the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after acquiring an additional 130,738 shares during the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Stock Performance

LPTH stock opened at $13.23 on Tuesday. The firm has a market cap of $830.71 million, a P/E ratio of -26.46 and a beta of 1.39. The stock’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $12.77. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 12-month low of $4.18 and a 12-month high of $18.94.

About LightPath Technologies

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.