LightPath Technologies (NASDAQ:LPTH) Shares Gap Down - Should You Sell?

Key Points

• LightPath shares fell about 5.5%, opening at $7.57 after previously closing at $7.99; they were last trading at $7.64.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $13.70, although Canaccord and Piper Sandler cut their targets and some firms maintain sell ratings.
• Quarterly EPS of -$0.02 modestly beat expectations, but revenue of $20.76 million fell short of estimates; the company also reported a negative net margin.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report)'s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $7.99, but opened at $7.57. LightPath Technologies shares last traded at $7.64, with a volume of 542,854 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on LPTH shares. Canaccord Genuity Group decreased their price target on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Tuesday, September 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research report on Thursday, October 15th. Wall Street Zen lowered shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Sunday, September 20th. Finally, Piper Sandler reduced their price objective on shares of LightPath Technologies from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.70.

LightPath Technologies Trading Down 5.5%

The firm has a market cap of $529.18 million, a PE ratio of -18.88 and a beta of 1.53. The business has a fifty day moving average price of $9.01 and a 200 day moving average price of $11.73.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. LightPath Technologies had a negative net margin of 28.65% and a negative return on equity of 7.02%. The business had revenue of $20.76 million during the quarter, compared to the consensus estimate of $21.93 million. On average, research analysts expect that LightPath Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds have recently made changes to their positions in LPTH. AWM Investment Company Inc. acquired a new stake in shares of LightPath Technologies during the second quarter worth about $41,488,000. Tema ETFs LLC boosted its position in shares of LightPath Technologies by 129,258.4% in the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company's stock valued at $32,487,000 after purchasing an additional 1,985,409 shares during the period. Tidal Investments LLC boosted its position in shares of LightPath Technologies by 10,315.1% in the 2nd quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company's stock valued at $31,925,000 after purchasing an additional 1,933,881 shares during the period. Voya Investment Management LLC grew its stake in LightPath Technologies by 6,644.7% during the 3rd quarter. Voya Investment Management LLC now owns 735,445 shares of the technology company's stock worth $7,582,000 after buying an additional 724,541 shares during the last quarter. Finally, CenterBook Partners LP grew its stake in LightPath Technologies by 117.8% during the 3rd quarter. CenterBook Partners LP now owns 1,042,156 shares of the technology company's stock worth $10,745,000 after buying an additional 563,654 shares during the last quarter. Hedge funds and other institutional investors own 56.29% of the company's stock.

LightPath Technologies Company Profile

LightPath Technologies, Inc. designs and manufactures optical components and assemblies for commercial and government customers. Its products include precision-molded glass aspheric lenses, infrared optics, and custom optical systems used in applications such as thermal imaging and sensing. The company serves markets including aerospace and defense, industrial, medical, and telecommunications. Its capabilities span optical design, materials development, manufacturing, and assembly, supporting customers from component selection through integrated optical solutions.

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