Lake Street Capital Forecasts Strong Price Appreciation for LightPath Technologies (NASDAQ:LPTH) Stock

LightPath Technologies (NASDAQ:LPTH) had its price objective hoisted by analysts at Lake Street Capital from $10.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price target suggests a potential upside of 22.16% from the stock’s previous close.

Several other research analysts have also issued reports on LPTH. HC Wainwright upped their target price on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. One 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.com, LightPath Technologies has an average rating of “Moderate Buy” and a consensus price target of $10.13.

LightPath Technologies Price Performance

LPTH traded down $0.23 on Tuesday, reaching $11.46. The company had a trading volume of 1,557,688 shares, compared to its average volume of 2,241,832. LightPath Technologies has a 52-week low of $1.61 and a 52-week high of $12.10. The company has a market cap of $521.77 million, a price-to-earnings ratio of -29.36 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98. The business has a 50 day simple moving average of $8.16 and a 200 day simple moving average of $6.23.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marathon Capital Management purchased a new stake in shares of LightPath Technologies in the 2nd quarter worth about $54,000. J.W. Cole Advisors Inc. bought a new position in LightPath Technologies in the second quarter worth about $79,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies in the third quarter worth about $82,000. Hudson Bay Capital Management LP purchased a new stake in LightPath Technologies in the third quarter worth about $84,000. Finally, Wexford Capital LP purchased a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $88,000. 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.