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

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) has been assigned an average 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 rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.30.

Several equities research analysts have recently issued reports on LPTH shares. Wall Street Zen lowered shares of 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 issued a $16.50 price target on shares of LightPath Technologies in a report on Monday, July 27th. Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Piper Sandler initiated coverage on LightPath Technologies in a report on Wednesday, August 12th. They set an "overweight" rating and a $15.00 target price on the stock.

LightPath Technologies Stock Performance

NASDAQ LPTH opened at $13.23 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. LightPath Technologies has a 1-year low of $4.18 and a 1-year high of $18.94. The firm has a market capitalization of $830.71 million, a P/E ratio of -26.46 and a beta of 1.39. The business's 50-day simple moving average is $12.86 and its 200-day simple moving average is $12.77.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the transaction, the director directly owned 2,934,828 shares of the company's stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 24.80% of the company's stock.

Hedge Funds Weigh In On LightPath Technologies

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new stake in LightPath Technologies during the 2nd quarter valued at approximately $8,496,000. AIGH Capital Management LLC boosted its stake in shares of LightPath Technologies by 14.5% during the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company's stock valued at $11,132,000 after buying an additional 130,738 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of LightPath Technologies by 55.6% during the 1st quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company's stock valued at $3,971,000 after buying an additional 141,473 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in shares of LightPath Technologies during the fourth quarter worth approximately $1,080,000. Finally, Tema ETFs LLC grew its position 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 buying an additional 1,985,409 shares in the last quarter. 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.

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