LightPath Technologies (NASDAQ:LPTH) Stock Price Down 6.5% - What's Next?

Key Points

• LightPath Technologies shares fell 6.5% on Friday, trading as low as $11.56, well below the prior close of $12.37. Volume was also far lighter than usual, with 268,762 shares traded versus an average of more than 3.1 million.
• Analyst sentiment remains mixed but leans positive overall. The stock has a consensus rating of “Moderate Buy” with a consensus price target of $14.12, though recent calls included downgrades to sell from Wall Street Zen and Weiss Ratings.
• The company recently reported quarterly EPS of -$0.02, matching estimates, while revenue of $19.15 million beat expectations. LightPath also saw significant insider selling, including a director’s sale of 3.57 million shares in June.

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) dropped 6.5% during trading on Friday . The company traded as low as $11.56 and last traded at $11.56. 268,762 shares were traded during trading, a decline of 91% from the average session volume of 3,158,052 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Canaccord Genuity Group boosted their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.12.

LightPath Technologies Trading Down 6.3%

The firm has a market capitalization of $727.74 million, a price-to-earnings ratio of -23.18 and a beta of 1.34. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average is $14.15 and its 200 day moving average is $12.72.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The firm had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. Equities analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company's stock, valued at $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 3,864,452 shares of company stock worth $53,576,437 over the last quarter. 24.80% of the stock is owned by insiders.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies during the third quarter valued at about $82,000. Wexford Capital LP purchased a new position in shares of LightPath Technologies in the third quarter worth approximately $88,000. Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies in the third quarter worth approximately $90,000. Royal Bank of Canada raised its holdings in shares of LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company's stock valued at $96,000 after acquiring an additional 8,380 shares during the period. Finally, PVG Asset Management Corp purchased a new stake in shares of LightPath Technologies in the 1st quarter valued at approximately $108,000. Hedge funds and other institutional investors own 56.29% of the company's stock.

About LightPath Technologies

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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