LightPath Technologies (NASDAQ:LPTH) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded LightPath Technologies from “hold” to “sell,” adding to concerns about the stock’s outlook.
• Analyst sentiment remains mixed: Piper Sandler and Canaccord Genuity maintain bullish ratings, while Weiss Ratings also rates the stock as a sell. Overall, LPTH has a “Moderate Buy” consensus rating and a $14.10 average price target.
• LPTH opened at $9.90, below its 50-day and 200-day moving averages, while institutional investors own approximately 56.29% of the company.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on LPTH. Piper Sandler began 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. Canaccord Genuity Group dropped their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating on the stock in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.10.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $9.90 on Friday. LightPath Technologies has a 1-year low of $5.83 and a 1-year high of $18.94. The business has a 50-day moving average of $11.47 and a 200-day moving average of $12.65. The company has a market capitalization of $693.40 million, a price-to-earnings ratio of -24.75 and a beta of 1.39.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. bought a new position in LightPath Technologies during the second quarter worth $41,488,000. Tema ETFs LLC raised its holdings in shares of LightPath Technologies by 129,258.4% during the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company's stock worth $32,487,000 after purchasing an additional 1,985,409 shares during the period. Tidal Investments LLC raised its holdings in shares of LightPath Technologies by 10,315.1% during the second quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company's stock worth $31,925,000 after purchasing an additional 1,933,881 shares during the period. Wasatch Advisors LP bought a new position in shares of LightPath Technologies in the 2nd quarter worth about $8,496,000. Finally, Granahan Investment Management LLC lifted its position in shares of LightPath Technologies by 14.9% in the 1st quarter. Granahan Investment Management LLC now owns 753,621 shares of the technology company's stock worth $7,559,000 after buying an additional 97,601 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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