LightPath Technologies (NASDAQ:LPTH) Shares Down 11% – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) fell 11% during trading on Tuesday . The stock traded as low as $11.33 and last traded at $11.40. 1,489,488 shares traded hands during trading, a decline of 48% from the average session volume of 2,841,505 shares. The stock had previously closed at $12.81.

Analyst Ratings Changes

Several brokerages have commented on LPTH. HC Wainwright boosted their target price on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Canaccord Genuity Group upped their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, LightPath Technologies has an average rating of “Moderate Buy” and an average target price of $14.13.

LightPath Technologies Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. The stock has a market capitalization of $686.17 million, a PE ratio of -23.78 and a beta of 1.26. The business’s fifty day moving average price is $12.10 and its 200-day moving average price is $10.50.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. LightPath Technologies had a negative return on equity of 20.69% and a negative net margin of 37.38%. As a group, equities research analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 302,352 shares of LightPath Technologies stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $12.31, for a total transaction of $3,721,953.12. Following the completion of the sale, the director owned 3,283,164 shares in the company, valued at approximately $40,415,748.84. This trade represents a 8.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 2,131,247 shares of company stock worth $26,122,799. Company insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in shares of LightPath Technologies in the third quarter worth about $953,000. Portolan Capital Management LLC bought a new position in shares of LightPath Technologies in the third quarter worth about $12,939,000. HUB Investment Partners LLC boosted its stake in shares of LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after acquiring an additional 117,000 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of LightPath Technologies in the third quarter worth about $8,445,000. Finally, AIGH Capital Management LLC boosted its stake in shares of LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after acquiring an additional 130,738 shares during the period. Hedge funds and other institutional investors 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.