LightPath Technologies (NASDAQ:LPTH) Trading 8.5% Higher – Time to Buy?

LightPath Technologies, Inc. (NASDAQ:LPTH)’s stock price traded up 8.5% during mid-day trading on Tuesday . The company traded as high as $13.10 and last traded at $13.6440. 842,242 shares traded hands during trading, a decline of 71% from the average session volume of 2,922,532 shares. The stock had previously closed at $12.57.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LPTH shares. HC Wainwright boosted their price target on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. Finally, Lake Street Capital raised their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LightPath Technologies presently has an average rating of “Moderate Buy” and an average price target of $10.13.

LightPath Technologies Stock Performance

The stock has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $7.06. 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 stock has a market cap of $652.44 million, a price-to-earnings ratio of -36.74 and a beta of 0.98.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the transaction, the director owned 2,728,968 shares in the company, valued at $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds have recently made changes to their positions in the stock. Marathon Capital Management acquired a new position in LightPath Technologies during the 2nd quarter worth approximately $54,000. J.W. Cole Advisors Inc. bought a new stake in shares of LightPath Technologies during the second quarter worth $79,000. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies during the third quarter worth $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies in the 3rd quarter valued at $84,000. Finally, Wexford Capital LP acquired a new stake in shares of LightPath Technologies during the 3rd quarter valued at $88,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.