LightPath Technologies (NASDAQ:LPTH) Stock Price Up 9.8% - Here's What Happened

Key Points

• LightPath shares jumped 9.8% on Thursday to about $11.22, trading as high as $11.24 on roughly 810,272 shares—about a 70% decline versus average daily volume.
• Analysts have been raising ratings and targets (Lake Street to $14; HC Wainwright and Canaccord to $15), leaving a consensus of " Moderate Buy " with an average price target of $12.10.
• Insiders have been net sellers recently: a director sold 770,321 shares on Jan. 5 and insiders sold about 2.9 million shares (~$35.15M) over the past three months, though insiders still own 24.8% of the company.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s share price was up 9.8% on Thursday . The company traded as high as $11.24 and last traded at $11.22. Approximately 810,272 shares were traded during trading, a decline of 70% from the average daily volume of 2,736,559 shares. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Lake Street Capital upped their price target on LightPath Technologies from $10.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a report on Thursday, January 22nd. HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Finally, Canaccord Genuity Group started coverage on shares of LightPath Technologies in a research report on Thursday, January 29th. They set a "buy" rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.10.

LightPath Technologies Stock Performance

The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $631.35 million, a P/E ratio of -21.04 and a beta of 1.07. The business has a fifty day simple moving average of $11.18 and a 200-day simple moving average of $9.54.

Insider Transactions at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the business's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director owned 2,728,968 shares of the company's stock, valued at $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 2,901,568 shares of company stock worth $35,150,961. Company insiders own 24.80% of the company's stock.

Hedge Funds Weigh In On LightPath Technologies

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock worth $122,000 after buying an additional 29,054 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in LightPath Technologies in the second quarter worth $79,000. Marathon Capital Management purchased a new stake in shares of LightPath Technologies in the second quarter worth $54,000. Mink Brook Asset Management LLC bought a new position in shares of LightPath Technologies during the second quarter valued at $246,000. Finally, Calamos Advisors LLC bought a new position in shares of LightPath Technologies during the third quarter valued at $1,322,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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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