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

LightPath Technologies (NASDAQ:LPTH) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of LightPath Technologies in a report on Friday, September 20th.

LightPath Technologies Price Performance

LPTH remained flat at $3.25 during trading hours on Wednesday. The company had a trading volume of 517,090 shares, compared to its average volume of 86,408. LightPath Technologies has a 52 week low of $1.04 and a 52 week high of $3.40. The firm’s 50-day simple moving average is $1.85 and its two-hundred day simple moving average is $1.51. The stock has a market capitalization of $128.93 million, a PE ratio of -14.77 and a beta of 1.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.73.

Institutional Investors Weigh In On LightPath Technologies

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

About LightPath Technologies

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.