LightPath Technologies, Inc. (NASDAQ:LPTH) Stock Has Average Target Price of $13.70 According to Brokerages

Key Points

• Analysts rate LightPath Technologies a “Moderate Buy” overall: Four of six covering firms recommend buying, one recommends a strong buy, and one rates it a sell. Their average one-year price target is $13.70.
• Several analysts have recently lowered their targets: Canaccord Genuity cut its target to $15.50, while Piper Sandler reduced its target to $13.00; both retained positive ratings.
• LPTH opened at $7.06, below its 50-day average of $9.11 and 200-day average of $11.79. Institutional investors and hedge funds own 56.29% of the company’s shares.

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.70.

LPTH has been the subject of a number of research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LightPath Technologies in a report on Thursday, October 15th. Canaccord Genuity Group cut their price target on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating on the stock in a report on Tuesday, September 1st. Piper Sandler reduced their price target on shares of LightPath Technologies from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, October 23rd. Finally, Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $7.06 on Friday. The business's 50-day simple moving average is $9.11 and its two-hundred day simple moving average is $11.79. The company has a market cap of $494.84 million, a PE ratio of -17.65 and a beta of 1.53. LightPath Technologies has a fifty-two week low of $5.83 and a fifty-two week high of $18.94.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its stake in shares of LightPath Technologies by 297.3% during the 3rd quarter. Allworth Financial LP now owns 4,009 shares of the technology company's stock valued at $41,000 after buying an additional 3,000 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of LightPath Technologies by 117.8% in the 3rd quarter. CenterBook Partners LP now owns 1,042,156 shares of the technology company's stock valued at $10,745,000 after buying an additional 563,654 shares during the period. Asset One Wealth Management LLC lifted its holdings in shares of LightPath Technologies by 125.1% in the 3rd quarter. Asset One Wealth Management LLC now owns 79,285 shares of the technology company's stock valued at $817,000 after buying an additional 44,069 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in shares of LightPath Technologies by 16.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 46,100 shares of the technology company's stock worth $475,000 after buying an additional 6,500 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new stake in shares of LightPath Technologies in the third quarter worth about $35,000. Institutional investors and hedge funds own 56.29% of the company's stock.

About LightPath Technologies

LightPath Technologies, Inc is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company's products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths.

Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.

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