LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $6.00

Key Points

• HC Wainwright has raised its target price for LightPath Technologies (NASDAQ:LPTH) from $5.00 to $6.00, suggesting a potential upside of 25.00% based on the stock's previous close.
• Multiple brokerages have shown increased confidence in LPTH, with four analysts rating it as a Buy and one as a Hold, leading to an overall rating of "Moderate Buy".
• Institutional investors hold 56.29% of LightPath Technologies, indicating strong support and investment from major financial players in the market.

LightPath Technologies (NASDAQ:LPTH - Free Report) had its price target hoisted by HC Wainwright from $5.00 to $6.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

LPTH has been the subject of several other reports. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Zacks Research raised LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.13.

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH traded down $0.09 during trading on Thursday, hitting $5.35. 1,326,906 shares of the company traded hands, compared to its average volume of 873,106. The stock has a market capitalization of $237.81 million, a price-to-earnings ratio of -20.58 and a beta of 1.09. The business's fifty day moving average is $3.48 and its 200-day moving average is $2.74. LightPath Technologies has a one year low of $1.04 and a one year high of $5.47. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. bought a new position in LightPath Technologies in the 2nd quarter worth approximately $134,000. Mink Brook Asset Management LLC bought a new position in LightPath Technologies in the 2nd quarter worth approximately $246,000. Marathon Capital Management bought a new position in LightPath Technologies in the 2nd quarter worth approximately $54,000. J.W. Cole Advisors Inc. bought a new position in LightPath Technologies in the 2nd quarter worth approximately $79,000. Finally, Wealth Effects LLC grew its holdings in LightPath Technologies by 5.8% in the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company's stock worth $419,000 after buying an additional 7,500 shares in the last quarter. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.