Lake Street Capital Issues Positive Forecast for LightPath Technologies (NASDAQ:LPTH) Stock Price

LightPath Technologies (NASDAQ:LPTH - Get Free Report) had its price objective increased by analysts at Lake Street Capital from $3.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Lake Street Capital's price target would suggest a potential upside of 14.61% from the stock's previous close.

Several other research analysts have also recently commented on LPTH. StockNews.com cut shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $3.00 target price on shares of LightPath Technologies in a report on Friday, September 20th.

LightPath Technologies Stock Up 12.6 %

LPTH stock traded up $0.39 during mid-day trading on Friday, reaching $3.49. The company had a trading volume of 778,033 shares, compared to its average volume of 90,981. LightPath Technologies has a fifty-two week low of $1.04 and a fifty-two week high of $3.59. The company has a market capitalization of $138.43 million, a price-to-earnings ratio of -15.86 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. The firm has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $1.53.

Hedge Funds Weigh In On LightPath Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC boosted its holdings in shares of 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 buying an additional 12,600 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in LightPath Technologies by 104.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 131,824 shares of the technology company's stock valued at $166,000 after acquiring an additional 67,429 shares in the last quarter. Finally, AIGH Capital Management LLC grew its holdings in shares of 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 worth $4,692,000 after purchasing an additional 200,000 shares during the last quarter. 56.29% of the stock is currently owned by hedge funds and other 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.