LightPath Technologies (NASDAQ:LPTH) Stock Price Down 11.1% – Time to Sell?

LightPath Technologies, Inc. (NASDAQ:LPTH) shares fell 11.1% during mid-day trading on Tuesday . The company traded as low as $12.39 and last traded at $12.54. Approximately 1,142,155 shares changed hands during trading, a decline of 64% from the average session volume of 3,192,854 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LPTH. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.12.

LightPath Technologies Price Performance

The company has a 50-day moving average of $14.41 and a 200-day moving average of $12.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The firm has a market capitalization of $806.85 million, a price-to-earnings ratio of -25.70 and a beta of 1.34.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. As a group, research analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,864,452 shares of company stock worth $53,576,437 in the last quarter. Company insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock valued at $579,000 after purchasing an additional 3,276 shares during the period. Jefferies Financial Group Inc. boosted its position in shares of LightPath Technologies by 45.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after buying an additional 5,223 shares during the period. Thompson Davis & CO. Inc. grew its holdings in shares of LightPath Technologies by 11.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after buying an additional 6,691 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of LightPath Technologies by 41.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after buying an additional 8,300 shares in the last quarter. Finally, Royal Bank of Canada raised its position in LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after buying an additional 8,380 shares during the last quarter. Institutional investors and hedge funds 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.