LightPath Technologies (NASDAQ:LPTH) Stock Price Down 6.5% – What’s Next?

LightPath Technologies, Inc. (NASDAQ:LPTH) was down 6.5% on Friday . The stock traded as low as $11.56 and last traded at $11.56. 268,762 shares were traded during trading, a decline of 91% from the average session volume of 3,158,052 shares. The stock had previously closed at $12.37.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LPTH shares. Canaccord Genuity Group increased their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LightPath Technologies has a consensus rating of “Moderate Buy” and an average target price of $14.12.

LightPath Technologies Stock Performance

The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $727.74 million, a PE ratio of -23.18 and a beta of 1.34. The firm’s fifty day moving average price is $14.15 and its 200 day moving average price is $12.72.

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

Insider Activity

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’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 completion of the sale, the director 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 3,864,452 shares of company stock worth $53,576,437. 24.80% of the stock is owned by insiders.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. Occudo Quantitative Strategies LP acquired a new stake in LightPath Technologies in the third quarter valued at approximately $82,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth $88,000. Jefferies Financial Group Inc. bought a new position in shares of LightPath Technologies during the 3rd quarter valued at $90,000. Royal Bank of Canada raised its holdings in shares of LightPath Technologies by 707.2% during the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after purchasing an additional 8,380 shares in the last quarter. Finally, PVG Asset Management Corp acquired a new stake in shares of LightPath Technologies in the 1st quarter valued at $108,000. 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.