LightPath Technologies (NASDAQ:LPTH) Downgraded to Sell Rating by Wall Street Zen

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

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

LightPath Technologies Price Performance

NASDAQ LPTH opened at $9.90 on Friday. LightPath Technologies has a twelve month low of $5.83 and a twelve month high of $18.94. The firm has a market capitalization of $693.40 million, a PE ratio of -24.75 and a beta of 1.39. The stock’s 50 day moving average is $11.47 and its 200 day moving average is $12.66.

Hedge Funds Weigh In On LightPath Technologies

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in 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 worth $31,925,000 after purchasing an additional 1,933,881 shares in the last quarter. WINTON GROUP Ltd bought a new stake in LightPath Technologies during the 2nd quarter valued at about $835,000. RFG Advisory LLC bought a new stake in LightPath Technologies during the 2nd quarter valued at about $5,879,000. FirstWave Capital Management LLC purchased a new position in LightPath Technologies in the second quarter worth about $1,700,000. Finally, TD Waterhouse Canada Inc. purchased a new position in LightPath Technologies in the second quarter worth about $71,000. Hedge funds and other institutional investors 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.