HC Wainwright Issues Positive Forecast for LightPath Technologies (NASDAQ:LPTH) Stock Price

Key Points

• HC Wainwright has raised its price target for LightPath Technologies (NASDAQ:LPTH) from $7.00 to $8.00, indicating a potential upside of 23.08% from the current stock price, alongside maintaining a "buy" rating.
• Other analysts have given mixed ratings, with Zacks Research upgrading the stock to a "hold" and four analysts rating it as a "buy," resulting in an average target price of $5.63.
• The company's shares opened at $6.50, with a market cap of approximately $288.93 million and a notable performance ranging from a 52-week low of $1.29 to a high of $7.48.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) had its price objective raised by HC Wainwright from $7.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. HC Wainwright's price target would indicate a potential upside of 23.08% from the stock's current price.

Several other equities research analysts have also commented on LPTH. Zacks Research upgraded LightPath Technologies to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, LightPath Technologies has an average rating of "Moderate Buy" and an average target price of $5.63.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $6.50 on Friday. The business's 50 day moving average price is $4.58 and its 200 day moving average price is $3.22. The firm has a market cap of $288.93 million, a P/E ratio of -25.00 and a beta of 1.10. LightPath Technologies has a 52 week low of $1.29 and a 52 week high of $7.48. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33.

Institutional Trading of LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP increased its stake in shares of LightPath Technologies by 4.7% in the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock worth $2,602,000 after acquiring an additional 58,194 shares during the last quarter. Wealth Effects LLC increased its position in shares of LightPath Technologies by 5.8% during the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company's stock worth $419,000 after purchasing an additional 7,500 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in shares of LightPath Technologies during the 2nd quarter worth about $246,000. Northern Trust Corp increased its position in shares of LightPath Technologies by 25.7% during the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock worth $226,000 after purchasing an additional 13,087 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock worth $122,000 after purchasing an additional 29,054 shares during the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

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.

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