LightPath Technologies (NASDAQ:LPTH) Hits New 12-Month High – Should You Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $18.26 and last traded at $17.61, with a volume of 4383735 shares. The stock had previously closed at $16.24.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. HC Wainwright boosted their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and an average price target of $14.13.

LightPath Technologies Stock Up 8.4%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The business’s fifty day simple moving average is $12.81 and its two-hundred day simple moving average is $11.01. The company has a market cap of $1.11 billion, a PE ratio of -35.22 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. On average, analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 165,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.16, for a total transaction of $2,006,400.00. Following the completion of the sale, the director owned 2,990,112 shares of the company’s stock, valued at $36,359,761.92. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,390,853 shares of company stock worth $16,925,923 over the last three months. 24.80% of the stock is owned by insiders.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently modified their holdings of LPTH. Occudo Quantitative Strategies LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $82,000. Hudson Bay Capital Management LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $84,000. Wexford Capital LP purchased a new stake in shares of LightPath Technologies during the third quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new stake in shares of LightPath Technologies during the third quarter worth about $90,000. Finally, Royal Bank of Canada increased its stake in shares of LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after purchasing an additional 8,380 shares in the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.