LightPath Technologies (NASDAQ:LPTH) Rating Lowered to “Sell” at Wall Street Zen

LightPath Technologies (NASDAQ:LPTH) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other analysts have also weighed in on the stock. Lake Street Capital upped their target price on shares of LightPath Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. LADENBURG THALM/SH SH increased their price objective on shares of LightPath Technologies from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, HC Wainwright lifted their price objective on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.13.

LightPath Technologies Trading Down 11.2%

LPTH opened at $8.10 on Friday. The business has a fifty day moving average price of $7.97 and a 200 day moving average price of $5.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. LightPath Technologies has a 12 month low of $1.61 and a 12 month high of $10.69. The stock has a market capitalization of $368.79 million, a price-to-earnings ratio of -20.77 and a beta of 1.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC grew its position in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after buying an additional 29,054 shares during the last quarter. Wealth Effects LLC boosted its stake in 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 acquiring an additional 7,500 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of LightPath Technologies during the second quarter worth about $137,000. J.W. Cole Advisors Inc. purchased a new position in shares of LightPath Technologies during the second quarter worth about $79,000. Finally, Marathon Capital Management acquired a new stake in shares of LightPath Technologies during the second quarter worth about $54,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.