LightPath Technologies (NASDAQ:LPTH) Rating Lowered to “Sell” at Wall Street Zen

LightPath Technologies (NASDAQ:LPTH) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other analysts have also recently commented on LPTH. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. HC Wainwright lifted their target price on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Lake Street Capital lifted their price objective on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH opened at $10.98 on Friday. LightPath Technologies has a 52 week low of $1.61 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The company has a market capitalization of $633.66 million, a PE ratio of -21.12 and a beta of 1.07. The company has a 50 day moving average price of $11.09 and a two-hundred day moving average price of $9.62.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 595,573 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the completion of the transaction, the director owned 3,393,395 shares in the company, valued at approximately $42,519,239.35. This represents a 14.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 2,131,247 shares of company stock valued at $26,122,799. 24.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Lake Street Private Wealth LLC acquired a new stake in LightPath Technologies in the 4th quarter valued at approximately $108,000. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies during the 3rd quarter worth approximately $82,000. Hudson Bay Capital Management LP acquired a new position in LightPath Technologies during the 3rd quarter worth approximately $84,000. Wexford Capital LP bought a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $88,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $90,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.