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

Wall Street Zen cut shares of LightPath Technologies (NASDAQ:LPTH) from a hold rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Canaccord Genuity Group decreased their price target on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, September 1st. Finally, Piper Sandler started coverage on LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $14.10.

LightPath Technologies Trading Down 0.5%

Shares of LPTH stock opened at $10.15 on Friday. The firm has a market capitalization of $710.91 million, a P/E ratio of -25.38 and a beta of 1.39. The firm’s fifty day simple moving average is $11.43 and its 200 day simple moving average is $12.63. LightPath Technologies has a 1 year low of $5.83 and a 1 year high of $18.94.

Institutional Trading of LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in LPTH. AWM Investment Company Inc. acquired a new stake in LightPath Technologies during the 2nd quarter worth approximately $41,488,000. Tema ETFs LLC boosted its stake in shares of LightPath Technologies by 129,258.4% during the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after buying an additional 1,985,409 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of LightPath Technologies by 10,315.1% in the 2nd quarter. Tidal Investments LLC now owns 1,952,629 shares of the technology company’s stock valued at $31,925,000 after acquiring an additional 1,933,881 shares in the last quarter. Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies in the fourth quarter valued at about $7,085,000. Finally, Wasatch Advisors LP acquired a new stake in shares of LightPath Technologies in the second quarter valued at about $8,496,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Company Profile

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.