LightPath Technologies (NASDAQ:LPTH) Trading Up 15.5% – Here’s Why

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price was up 15.5% during trading on Monday . The stock traded as high as $11.85 and last traded at $12.0510. Approximately 1,026,569 shares changed hands during trading, a decline of 68% from the average daily volume of 3,188,775 shares. The stock had previously closed at $10.43.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LPTH shares. Canaccord Genuity Group initiated coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Lake Street Capital lifted their target price on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Finally, HC Wainwright lifted their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.10.

LightPath Technologies Trading Up 0.8%

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 cap of $697.14 million, a price-to-earnings ratio of -23.23 and a beta of 0.98. The company has a fifty day simple moving average of $11.46 and a 200-day simple moving average of $8.67.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 300,092 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $12.18, for a total value of $3,655,120.56. Following the completion of the transaction, the director owned 2,955,522 shares of the company’s stock, valued at approximately $35,998,257.96. This trade represents a 9.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,803,767 shares of company stock valued at $21,801,875. 24.80% of the stock is currently owned by corporate insiders.

Institutional Trading of LightPath Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Marathon Capital Management acquired a new stake in LightPath Technologies during the 2nd quarter worth about $54,000. J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies in the 2nd quarter worth about $79,000. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies in the third quarter worth approximately $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies during the 3rd quarter valued at $84,000. Finally, Wexford Capital LP bought a new position in LightPath Technologies during the third quarter valued at about $88,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.