LightPath Technologies (NASDAQ:LPTH) Sets New 52-Week High - Here's Why

Key Points

• LightPath's shares hit a new 52-week high of $15.36 on Friday (volume 38,541) and the company has a market cap of about $883.5 million.
• Analyst activity is broadly positive with a consensus rating of Moderate Buy and an average target of $12.10 after several upgrades and price-target increases up to $15, though one firm recently downgraded to sell.
• There has been notable insider selling — a director sold 302,352 shares at an average of $12.31 and insiders sold 2,131,247 shares in the last 90 days — while insiders still own 24.8% and institutional investors own 56.29% of the stock.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $15.36 and last traded at $15.36, with a volume of 38541 shares changing hands. The stock had previously closed at $14.92.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a "strong-buy" rating in a research report on Thursday, December 18th. Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. HC Wainwright increased their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Wall Street Zen lowered shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Finally, Canaccord Genuity Group assumed coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They set a "buy" rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.10.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The company has a market cap of $883.52 million, a P/E ratio of -29.44 and a beta of 1.07. The firm has a 50 day moving average price of $11.53 and a 200-day moving average price of $9.96.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 302,352 shares of the company's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $12.31, for a total transaction of $3,721,953.12. Following the completion of the sale, the director directly owned 3,283,164 shares of the company's stock, valued at approximately $40,415,748.84. This represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 2,131,247 shares of company stock valued at $26,122,799 in the last ninety days. 24.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds have recently bought and sold shares of LPTH. SG Americas Securities LLC grew its position in shares of LightPath Technologies by 6.0% in the first quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company's stock valued at $579,000 after purchasing an additional 3,276 shares during the last quarter. Peregrine Investment Management Inc. acquired a new position in shares of LightPath Technologies during the 1st quarter worth about $4,012,000. Millennium Management LLC boosted its stake in LightPath Technologies by 915.6% during the 4th quarter. Millennium Management LLC now owns 312,267 shares of the technology company's stock valued at $3,372,000 after purchasing an additional 281,519 shares during the period. Balyasny Asset Management L.P. acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $337,000. Finally, Boothbay Fund Management LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $352,000. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company's portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.

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