LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $7.50

Key Points

• Lake Street Capital has raised the price target for LightPath Technologies (NASDAQ:LPTH) from $4.00 to $7.50, suggesting a potential upside of 15.38% from its current price.
• Other analysts have also provided positive ratings, with HC Wainwright increasing the target price to $8.00 and four analysts giving the stock a "buy" rating.
• LightPath Technologies has a market capitalization of $288.93 million and has experienced a fifty-two week price range of $1.29 to $7.48, reflecting significant growth potential.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) had its price target boosted by Lake Street Capital from $4.00 to $7.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Lake Street Capital's price target would suggest a potential upside of 15.38% from the company's current price.

Other research analysts have also recently issued research reports about the stock. HC Wainwright raised their target price on shares of LightPath Technologies from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Zacks Research upgraded LightPath Technologies to a "hold" rating in a research report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

LightPath Technologies Price Performance

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

Institutional Trading of LightPath Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of LightPath Technologies by 25.7% in the 4th quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock worth $226,000 after acquiring an additional 13,087 shares during the last quarter. Jane Street Group LLC purchased a new position in LightPath Technologies during the 4th quarter valued at about $111,000. Millennium Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $53,000. Wealth Effects LLC increased its stake in LightPath Technologies by 176.3% during the first quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock worth $258,000 after purchasing an additional 82,000 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of LightPath Technologies by 4.7% in the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock valued at $2,602,000 after purchasing an additional 58,194 shares during the period. 56.29% of the stock is currently owned by hedge funds and other 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.

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