LightPath Technologies (NASDAQ:LPTH) Price Target Raised to $4.00 at Lake Street Capital

LightPath Technologies (NASDAQ:LPTH) had its price target boosted by equities research analysts at Lake Street Capital from $3.00 to $4.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price would suggest a potential upside of 29.03% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of LightPath Technologies in a research note on Friday, September 20th. StockNews.com lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday.

LightPath Technologies Stock Down 4.6 %

Shares of NASDAQ:LPTH opened at $3.10 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The stock has a market cap of $122.96 million, a price-to-earnings ratio of -14.09 and a beta of 1.32. The firm’s 50 day moving average price is $1.88 and its 200 day moving average price is $1.52. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $3.49.

Institutional Investors Weigh In On LightPath Technologies

Several hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC lifted its stake in shares of LightPath Technologies by 5.7% in 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 buying an additional 200,000 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of LightPath Technologies by 104.7% during 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 grew its holdings in shares of LightPath Technologies by 22.3% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 69,100 shares of the technology company’s stock worth $95,000 after purchasing an additional 12,600 shares in the last quarter. 56.29% of the stock is 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.