LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $7.00

Key Points

• HC Wainwright has raised the price target for LightPath Technologies (LPTH) from $6.00 to $7.00, suggesting a potential upside of 25.45% from its previous close.
• The stock currently holds a consensus rating of "Moderate Buy", with four analysts rating it as a buy and one as a hold.
• LightPath Technologies shares opened at $5.58 and have seen a 52-week range of $1.04 to $6.44.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) had its price target boosted by HC Wainwright from $6.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. HC Wainwright's target price would suggest a potential upside of 31.83% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $5.38.

LightPath Technologies Stock Performance

Shares of NASDAQ:LPTH traded down $0.36 on Thursday, hitting $5.31. 600,234 shares of the company were exchanged, compared to its average volume of 350,631. The company's 50 day moving average price is $3.71 and its two-hundred day moving average price is $2.84. LightPath Technologies has a one year low of $1.04 and a one year high of $6.44. 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 firm has a market capitalization of $236.03 million, a price-to-earnings ratio of -20.42 and a beta of 1.09.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ironwood Investment Counsel LLC increased its stake in LightPath Technologies by 14.8% in the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock valued at $65,000 after acquiring an additional 4,150 shares during the period. Wealth Effects LLC increased its stake in LightPath Technologies by 5.8% in the second quarter. Wealth Effects LLC now owns 136,000 shares of the technology company's stock valued at $419,000 after acquiring an additional 7,500 shares during the period. Cubist Systematic Strategies LLC bought a new stake in LightPath Technologies in the fourth quarter valued at about $32,000. Northern Trust Corp increased its stake in LightPath Technologies by 25.7% in the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after acquiring an additional 13,087 shares during the period. Finally, Millennium Management LLC bought a new stake in LightPath Technologies in the fourth quarter valued at about $53,000. Institutional investors own 56.29% of the company's stock.

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.