LightPath Technologies, Inc. (NASDAQ:LPTH) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• LightPath Technologies has a “Moderate Buy” consensus rating from six analysts: four buys, one strong buy and one sell. The average 12-month price target is $14.10.
• Recent analyst actions were mixed: Canaccord Genuity lowered its target to $15.50 but maintained a buy rating, while Piper Sandler initiated coverage with an overweight rating and a $15 target; other firms rated the stock sell.
• LPTH opened at $8.91, below its 50-day and 200-day moving averages of $11.14 and $12.51, respectively. Institutional investors own 56.29% of the company, with several funds significantly increasing their positions.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) has received an average rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One 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 12 month target price among analysts that have issued a report on the stock in the last year is $14.10.

Several research analysts recently commented on the company. Canaccord Genuity Group dropped their price target on LightPath Technologies from $16.50 to $15.50 and set a "buy" rating for the company in a research report on Tuesday, September 1st. Piper Sandler assumed coverage on LightPath Technologies in a research report on Wednesday, August 12th. They set an "overweight" rating and a $15.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. Finally, Wall Street Zen lowered LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th.

LightPath Technologies Stock Up 0.9%

LightPath Technologies stock opened at $8.91 on Wednesday. The company's 50-day moving average price is $11.14 and its 200-day moving average price is $12.51. LightPath Technologies has a twelve month low of $5.83 and a twelve month high of $18.94. The company has a market cap of $624.06 million, a PE ratio of -22.27 and a beta of 1.38.

Hedge Funds Weigh In On LightPath Technologies

Large investors have recently modified their holdings of the stock. AWM Investment Company Inc. purchased a new position in shares of LightPath Technologies during the 2nd quarter worth about $41,488,000. Tema ETFs LLC grew its holdings in LightPath Technologies by 129,258.4% during the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company's stock valued at $32,487,000 after purchasing an additional 1,985,409 shares during the last quarter. Tidal Investments LLC raised its position in LightPath Technologies by 10,315.1% in the 2nd 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. Granahan Investment Management LLC raised its position in 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 purchasing an additional 97,601 shares during the period. Finally, Bank of America Corp DE raised its position in LightPath Technologies by 118.2% in the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company's stock worth $5,577,000 after purchasing an additional 301,225 shares during the period. Institutional investors own 56.29% of the company's stock.

About LightPath Technologies

LightPath Technologies, Inc is a photonics and optical technology company that designs, manufactures and supplies precision optical and infrared products. Its offerings include molded glass aspheric lenses, infrared optics, optical assemblies, coatings and custom-engineered components used in imaging, sensing and laser applications.

The company serves customers in markets including defense and aerospace, industrial technology, security, medical equipment and communications. Its products are incorporated into systems such as thermal imaging cameras, laser-based equipment and other optical instruments, and are sold to customers in the United States and international markets.

LightPath has expanded its capabilities through acquisitions and internal development, including the addition of infrared optics and imaging expertise.

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