LightPath Technologies (NASDAQ:LPTH) Stock Price Up 8.8% – Here’s What Happened
by Teresa Graham · The Cerbat GemLightPath Technologies, Inc. (NASDAQ:LPTH – Get Free Report)’s stock price was up 8.8% on Monday . The stock traded as high as $11.54 and last traded at $11.49. Approximately 1,730,745 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 3,303,111 shares. The stock had previously closed at $10.56.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group started coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 target price on the stock. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. HC Wainwright raised their target price on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Lake Street Capital upped their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.10.
View Our Latest Stock Analysis on LightPath Technologies
LightPath Technologies Stock Performance
The business’s 50 day simple moving average is $10.29 and its two-hundred day simple moving average is $7.69. The firm has a market capitalization of $515.85 million, a PE ratio of -29.05 and a beta of 0.97. The company has a current ratio of 1.98, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.
Insider Buying and Selling at LightPath Technologies
In other news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s 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 of the company’s stock, valued at $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On LightPath Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. boosted its holdings in shares of LightPath Technologies by 45.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after purchasing an additional 5,223 shares during the period. Thompson Davis & CO. Inc. increased its holdings in shares of LightPath Technologies by 11.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock valued at $687,000 after acquiring an additional 6,691 shares during the period. Lake Street Private Wealth LLC bought a new stake in LightPath Technologies during the fourth quarter valued at about $108,000. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies in the third quarter worth about $82,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of LightPath Technologies during the third quarter valued at about $84,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.
About LightPath Technologies
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.