LightPath Technologies (NASDAQ:LPTH) Stock Rating Lowered by Wall Street Zen

Key Points

• LightPath Technologies has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen.
• Despite the downgrade, other analyst firms like Zacks Research and Lake Street Capital have recently issued ratings of "hold" and "buy" respectively, indicating mixed sentiment around the stock.
• Currently, the stock has a consensus rating of "Moderate Buy" with an average target price of $6.50 according to MarketBeat data.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

A number of other brokerages have also recently weighed in on LPTH. Zacks Research upgraded shares of LightPath Technologies to a "hold" rating in a research note on Tuesday, August 12th. Lake Street Capital raised their target price on shares of LightPath Technologies from $4.00 to $7.50 and gave the stock a "buy" rating in a research note on Friday. Finally, 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 research note on Friday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.50.

LightPath Technologies Stock Performance

NASDAQ:LPTH traded up $1.40 during trading hours on Friday, reaching $7.90. 4,996,008 shares of the company's stock were exchanged, compared to its average volume of 1,723,645. The firm has a market capitalization of $351.16 million, a price-to-earnings ratio of -21.94 and a beta of 1.10. The company has a 50-day moving average of $4.67 and a 200 day moving average of $3.26. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33. LightPath Technologies has a 1-year low of $1.35 and a 1-year high of $8.15.

Institutional Trading of LightPath Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP lifted 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. Wealth Effects LLC lifted its stake in shares of 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 purchasing an additional 7,500 shares during the period. Mink Brook Asset Management LLC acquired a new stake in shares of LightPath Technologies in the second quarter valued at about $246,000. Northern Trust Corp lifted its stake in shares of 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 purchasing an additional 13,087 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock valued at $122,000 after purchasing an additional 29,054 shares during the period. Institutional investors and hedge funds own 56.29% of the company's stock.

About LightPath Technologies

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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