LightPath Technologies (NASDAQ:LPTH) Trading Down 5.7% - Here's What Happened

Key Points

• LightPath shares dropped 5.7% on Monday to $12.92 (intraday low $12.70) on light trading—748,740 shares changed hands, about 73% below the average session volume.
• Analyst sentiment is mixed but the MarketBeat consensus is a Moderate Buy with an average price target of $13.75, with individual targets ranging up to $15 and some firms issuing Hold/Sell ratings.
• Insiders have been net sellers recently: a director sold 302,352 shares on March 25, and insiders sold 2,131,247 shares (~$26.1M) over the past 90 days, while insiders still own 24.8% of the company.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) traded down 5.7% on Monday . The stock traded as low as $12.70 and last traded at $12.92. 748,740 shares were traded during trading, a decline of 73% from the average session volume of 2,784,902 shares. The stock had previously closed at $13.70.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They set a "buy" rating and a $15.00 price target on the stock. Wall Street Zen cut LightPath Technologies from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Lake Street Capital increased their price target on LightPath Technologies from $10.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, January 6th. Finally, HC Wainwright increased their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LightPath Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $13.75.

LightPath Technologies Price Performance

The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $711.56 million, a PE ratio of -23.71 and a beta of 1.26. The firm has a 50 day moving average price of $12.03 and a 200 day moving average price of $10.36.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 302,352 shares of the company's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $12.31, for a total value of $3,721,953.12. Following the completion of the sale, the director directly owned 3,283,164 shares in the company, valued at $40,415,748.84. This represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 2,131,247 shares of company stock valued at $26,122,799. Corporate insiders own 24.80% of the company's stock.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in shares of LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company's stock worth $579,000 after purchasing an additional 3,276 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of LightPath Technologies by 45.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company's stock worth $180,000 after purchasing an additional 5,223 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of LightPath Technologies by 11.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company's stock worth $687,000 after purchasing an additional 6,691 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of LightPath Technologies by 41.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company's stock worth $307,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Lake Street Private Wealth LLC purchased a new stake in LightPath Technologies in the 4th quarter worth $108,000. 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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