LightPath Technologies, Inc. (NASDAQ:LPTH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.10.

Several research firms recently issued reports on LPTH. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Canaccord Genuity Group dropped their price objective on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research note on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Finally, Piper Sandler initiated coverage on shares of LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 target price on the stock.

LightPath Technologies Trading Down 2.1%

LPTH opened at $9.90 on Friday. LightPath Technologies has a 12 month low of $5.83 and a 12 month high of $18.94. The business’s 50-day moving average price is $11.47 and its 200-day moving average price is $12.65. The company has a market cap of $693.36 million, a P/E ratio of -24.75 and a beta of 1.39.

Institutional Trading of LightPath Technologies

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of LightPath Technologies by 118.2% during the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock valued at $5,577,000 after purchasing an additional 301,225 shares in the last quarter. Wasatch Advisors LP bought a new position in LightPath Technologies in the second quarter worth about $8,496,000. Bank of New York Mellon Corp bought a new position in LightPath Technologies in the second quarter worth about $2,352,000. Renaissance Technologies LLC lifted its holdings in LightPath Technologies by 55.6% in the first quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company’s stock worth $3,971,000 after buying an additional 141,473 shares during the period. Finally, Sei Investments Co. lifted its holdings in LightPath Technologies by 74.2% in the first quarter. Sei Investments Co. now owns 538,788 shares of the technology company’s stock worth $5,404,000 after buying an additional 229,515 shares during the period. Institutional investors own 56.29% of the company’s stock.

About LightPath Technologies

LightPath Technologies, Inc is a photonics company that designs, manufactures, and supplies optical components and systems for use in defense, aerospace, industrial, telecommunications, medical, and other technology applications. The company focuses on infrared and visible-spectrum optical solutions, serving customers that require precision imaging, sensing, and laser-related technologies.

Its products and services include precision-molded glass aspheric lenses, infrared optics, optical assemblies, imaging systems, and custom-engineered photonics solutions.