LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $10.00 at HC Wainwright

LightPath Technologies (NASDAQ:LPTH) had its target price hoisted by HC Wainwright from $8.00 to $10.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also weighed in on LPTH. Lake Street Capital increased their target price on LightPath Technologies from $4.00 to $7.50 and gave the stock a “buy” rating in a research report on Friday, September 26th. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded LightPath Technologies to a “hold” rating in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.13.

LightPath Technologies Trading Down 9.4%

NASDAQ:LPTH traded down $0.70 during trading hours on Wednesday, reaching $6.68. 1,958,174 shares of the company were exchanged, compared to its average volume of 706,882. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.66 and a quick ratio of 0.91. The firm has a market cap of $303.23 million, a price-to-earnings ratio of -18.54 and a beta of 1.18. LightPath Technologies has a 52-week low of $1.40 and a 52-week high of $10.69. The stock has a 50 day simple moving average of $7.58 and a 200 day simple moving average of $4.72.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds have recently modified their holdings of the stock. Wealth Effects LLC boosted its holdings in LightPath Technologies by 5.8% in the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock worth $419,000 after acquiring an additional 7,500 shares during the period. Ironwood Investment Counsel LLC lifted its position in shares of LightPath Technologies by 14.8% during the first quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company’s stock worth $65,000 after purchasing an additional 4,150 shares in the last quarter. Royce & Associates LP boosted its stake in shares of LightPath Technologies by 4.7% in the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock valued at $2,602,000 after purchasing an additional 58,194 shares during the period. Thompson Davis & CO. Inc. boosted its stake in shares of LightPath Technologies by 31.3% in the third quarter. Thompson Davis & CO. Inc. now owns 56,909 shares of the technology company’s stock valued at $451,000 after purchasing an additional 13,559 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in LightPath Technologies during the 3rd quarter valued at $139,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.