LightPath Technologies, Inc. (NASDAQ:LPTH) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts assign LightPath Technologies a “Moderate Buy” consensus rating: four analysts recommend buying, one gives a strong-buy rating, and one recommends selling. The average 12-month price target is $14.10, versus a recent share price of $9.90.
• LPTH shares have traded between $5.83 and $18.94 over the past year, with a market capitalization of approximately $693 million. Canaccord Genuity lowered its price target to $15.50 while maintaining a buy rating, and Piper Sandler initiated coverage with an overweight rating and a $15 target.
• Institutional ownership stands at 56.29%. Several major investors increased or initiated positions, including Bank of America, Renaissance Technologies, Sei Investments, Wasatch Advisors, and Bank of New York Mellon.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.10.

A number of research firms have commented on LPTH. Canaccord Genuity Group cut 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 note on Tuesday, September 1st. Wall Street Zen raised shares of LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. Finally, Piper Sandler initiated coverage on LightPath Technologies in a research note on Wednesday, August 12th. They issued an "overweight" rating and a $15.00 target price on the stock.

LightPath Technologies Price Performance

Shares of LPTH opened at $9.90 on Friday. The firm's 50 day simple moving average is $11.47 and its 200 day simple moving average is $12.65. The company has a market capitalization of $693.36 million, a P/E ratio of -24.75 and a beta of 1.39. LightPath Technologies has a 1-year low of $5.83 and a 1-year high of $18.94.

Hedge Funds Weigh In On LightPath Technologies

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in LightPath Technologies by 118.2% in the first quarter. Bank of America Corp DE now owns 556,037 shares of the technology company's stock worth $5,577,000 after buying an additional 301,225 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of LightPath Technologies in the 2nd quarter worth approximately $8,496,000. Bank of New York Mellon Corp bought a new stake in shares of LightPath Technologies in the 2nd quarter worth approximately $2,352,000. Renaissance Technologies LLC boosted its stake in shares of LightPath Technologies by 55.6% in the 1st quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company's stock valued at $3,971,000 after purchasing an additional 141,473 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of LightPath Technologies by 74.2% in the 1st quarter. Sei Investments Co. now owns 538,788 shares of the technology company's stock valued at $5,404,000 after purchasing an additional 229,515 shares in the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.

About LightPath Technologies

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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