LightPath Technologies (NASDAQ:LPTH) Trading Down 7.6% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s share price fell 7.6% during trading on Wednesday . The stock traded as low as $13.14 and last traded at $13.14. 453,514 shares traded hands during trading, a decline of 85% from the average daily volume of 3,105,451 shares. The stock had previously closed at $14.22.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Piper Sandler began coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.30.

LightPath Technologies Stock Performance

The firm has a market capitalization of $851.43 million, a PE ratio of -27.12 and a beta of 1.39. 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 stock has a 50-day moving average price of $12.97 and a 200-day moving average price of $12.70.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 24.80% of the stock is owned by corporate insiders.

Institutional Trading of LightPath Technologies

A number of hedge funds have recently made changes to their positions in the stock. AWM Investment Company Inc. bought a new position in LightPath Technologies during the 2nd quarter valued at $41,488,000. Tema ETFs LLC increased its position in shares of LightPath Technologies by 129,258.4% in the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after purchasing an additional 1,985,409 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies in the 4th quarter valued at about $7,085,000. Wasatch Advisors LP acquired a new stake in shares of LightPath Technologies in the 2nd quarter valued at about $8,496,000. Finally, Russell Investments Group Ltd. bought a new position in shares of LightPath Technologies during the third quarter worth about $3,669,000. 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.