Piper Sandler Initiates Coverage on LightPath Technologies (NASDAQ:LPTH)

Key Points

• Piper Sandler initiated coverage of LightPath Technologies with an “overweight” rating and a $15.00 price target, implying 14.59% potential upside from the prior close.
• Analyst sentiment is mixed but leans positive: LightPath has a consensus “Moderate Buy” rating and a $14.30 target price, with ratings ranging from Strong Buy to Sell.
• Institutional ownership stands at 56.29%, while an insider recently sold 3.57 million shares for approximately $50 million, reducing that holder’s position by 54.89%.

Research analysts at Piper Sandler started coverage on shares of LightPath Technologies (NASDAQ:LPTH - Get Free Report) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set an "overweight" rating and a $15.00 price target on the technology company's stock. Piper Sandler's target price would suggest a potential upside of 14.59% from the company's previous close.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a report on Friday, July 17th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.50 price target on shares of LightPath Technologies in a research report on Monday, July 27th. Finally, Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.30.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $13.09 on Wednesday. The company has a fifty day moving average price of $13.09 and a 200 day moving average price of $12.61. LightPath Technologies has a 1-year low of $3.36 and a 1-year high of $18.94. The firm has a market cap of $821.92 million, a PE ratio of -26.18 and a beta of 1.39. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. AWM Investment Company Inc. raised its stake in shares of LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company's stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Tema ETFs LLC grew its stake in shares of LightPath Technologies by 129,258.4% in the second quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company's stock valued at $32,487,000 after buying an additional 1,985,409 shares in the last quarter. Vanguard Group Inc. increased its holdings in LightPath Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company's stock worth $15,603,000 after buying an additional 72,208 shares during the last quarter. Goldman Sachs Group Inc. raised its position in LightPath Technologies by 14.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company's stock worth $15,656,000 after acquiring an additional 181,538 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its stake in LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company's stock valued at $11,132,000 after acquiring an additional 130,738 shares during the last quarter. 56.29% of the stock is currently owned by 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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