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

Wall Street Zen lowered shares of LightPath Technologies (NASDAQ:LPTH) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other brokerages also recently commented on LPTH. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. HC Wainwright increased their price objective on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Canaccord Genuity Group started coverage on shares of LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Lake Street Capital upped their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.10.

LightPath Technologies Stock Performance

Shares of NASDAQ LPTH opened at $10.50 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $10.06 and its two-hundred day moving average price is $7.50. LightPath Technologies has a 52-week low of $1.61 and a 52-week high of $15.24. The stock has a market capitalization of $478.07 million, a P/E ratio of -26.92 and a beta of 0.97.

Insider Buying and Selling

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Calamos Advisors LLC acquired a new position in LightPath Technologies during the third quarter worth about $1,322,000. Thompson Davis & CO. Inc. bought a new position in shares of LightPath Technologies during the 2nd quarter valued at about $134,000. Marathon Capital Management bought a new position in shares of LightPath Technologies during the 2nd quarter valued at about $54,000. J.W. Cole Advisors Inc. acquired a new position in shares of LightPath Technologies in the 2nd quarter worth approximately $79,000. Finally, HUB Investment Partners LLC raised its holdings in shares of LightPath Technologies by 141.0% in the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after purchasing an additional 117,000 shares in the last quarter. 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.