LightPath Technologies (NASDAQ:LPTH) Shares Up 8% - Should You Buy?

Key Points

• LightPath Technologies shares rose 8% to $10.44 in mid-day trading, though volume was 71% below the stock’s average daily volume.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $14.10, implying potential upside from current levels.
• The company has attracted institutional interest, including a new $41.5 million position by AWM Investment Company; institutions and hedge funds now own 56.29% of outstanding shares.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) shares traded up 8% during mid-day trading on Tuesday . The stock traded as high as $10.44 and last traded at $10.44. 907,243 shares traded hands during trading, a decline of 71% from the average daily volume of 3,142,735 shares. The stock had previously closed at $9.67.

Wall Street Analyst Weigh In

A number of research firms recently commented on LPTH. Piper Sandler began coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They issued an "overweight" rating and a $15.00 target price for the company. Wall Street Zen cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Canaccord Genuity Group dropped their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating on the stock in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.10.

LightPath Technologies Stock Performance

The firm's fifty day simple moving average is $12.22 and its 200 day simple moving average is $12.78. The company has a market capitalization of $664.95 million, a PE ratio of -21.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new stake in LightPath Technologies in the 2nd quarter worth approximately $204,000. FirstWave Capital Management LLC acquired a new stake in shares of LightPath Technologies during the 2nd quarter worth approximately $1,700,000. TD Waterhouse Canada Inc. purchased a new position in shares of LightPath Technologies during the 2nd quarter valued at approximately $71,000. Round Rock Advisors LLC increased its holdings in shares of LightPath Technologies by 59.5% during the 2nd quarter. Round Rock Advisors LLC now owns 30,691 shares of the technology company's stock valued at $502,000 after purchasing an additional 11,452 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter valued at $41,488,000. 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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