LightPath Technologies (NASDAQ:LPTH) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of LightPath Technologies (NASDAQ:LPTH) from a hold rating to a sell rating in a research note released on Saturday.

A number of other brokerages have also weighed in on LPTH. HC Wainwright raised their price objective on shares of LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday. LADENBURG THALM/SH SH raised their price target on LightPath Technologies from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Lake Street Capital upped their price objective on LightPath Technologies from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, December 27th.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock opened at $4.14 on Friday. The business has a 50-day simple moving average of $2.12 and a 200-day simple moving average of $1.62. The company has a market cap of $164.21 million, a PE ratio of -18.82 and a beta of 1.04. LightPath Technologies has a one year low of $1.04 and a one year high of $4.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.73.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC raised its position in LightPath Technologies by 5.7% in the 2nd quarter. AIGH Capital Management LLC now owns 3,723,932 shares of the technology company’s stock valued at $4,692,000 after purchasing an additional 200,000 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of LightPath Technologies by 104.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company’s stock worth $166,000 after buying an additional 67,429 shares during the period. Finally, Murphy Pohlad Asset Management LLC boosted its stake in shares of LightPath Technologies by 22.3% during the third quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after buying an additional 12,600 shares during the period. 56.29% of the stock is owned by institutional investors and hedge funds.

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.