LightPath Technologies, Inc. (NASDAQ:LPTH) Given Consensus Rating of “Moderate Buy” by Brokerages

LightPath Technologies, Inc. (NASDAQ:LPTH) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.1250.

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.50 price objective on shares of LightPath Technologies in a research report on Monday. Finally, Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is currently owned by insiders.

Institutional Trading of LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in LPTH. Occudo Quantitative Strategies LP purchased a new position in LightPath Technologies in the third quarter valued at about $82,000. Wexford Capital LP bought a new position in shares of LightPath Technologies during the 3rd quarter valued at approximately $88,000. Jefferies Financial Group Inc. purchased a new stake in shares of LightPath Technologies during the 3rd quarter worth approximately $90,000. Royal Bank of Canada raised its holdings in shares of LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after purchasing an additional 8,380 shares during the period. Finally, PVG Asset Management Corp bought a new stake in shares of LightPath Technologies in the 1st quarter worth approximately $108,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Trading Up 9.9%

NASDAQ:LPTH opened at $10.32 on Friday. 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 cap of $647.99 million, a price-to-earnings ratio of -20.64 and a beta of 1.34. LightPath Technologies has a 52 week low of $2.91 and a 52 week high of $18.94. The firm has a 50-day moving average price of $13.87 and a two-hundred day moving average price of $12.66.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $17.04 million. On average, equities analysts expect that LightPath Technologies will post -0.11 earnings per share for the current fiscal year.

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.