LightPath Technologies (NASDAQ:LPTH) Stock Price Up 8.6% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price was up 8.6% on Tuesday . The stock traded as high as $12.06 and last traded at $11.95. Approximately 1,832,658 shares traded hands during trading, a decline of 37% from the average daily volume of 2,923,037 shares. The stock had previously closed at $11.00.

Analyst Ratings Changes

A number of research firms have issued reports on LPTH. Canaccord Genuity Group initiated coverage on shares of LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Lake Street Capital upped their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. HC Wainwright boosted their price objective on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.10.

LightPath Technologies Price Performance

The stock has a fifty day moving average of $11.59 and a 200-day moving average of $9.17. The firm has a market capitalization of $654.43 million, a P/E ratio of -21.81 and a beta of 0.98. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $12.09, for a total transaction of $664,950.00. Following the transaction, the director owned 3,020,527 shares of the company’s stock, valued at approximately $36,518,171.43. This represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 2,478,762 shares of company stock valued at $29,982,515 over the last three months. Company insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. lifted its stake in shares of LightPath Technologies by 45.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after acquiring an additional 5,223 shares during the period. Thompson Davis & CO. Inc. raised its holdings in LightPath Technologies by 11.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after purchasing an additional 6,691 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in LightPath Technologies by 41.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after purchasing an additional 8,300 shares during the last quarter. Lake Street Private Wealth LLC acquired a new position in LightPath Technologies during the 4th quarter valued at about $108,000. Finally, Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies during the 3rd quarter valued at about $82,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.