Lake Street Capital Forecasts Strong Price Appreciation for LightPath Technologies (NASDAQ:LPTH) Stock

LightPath Technologies (NASDAQ:LPTH) had its price objective hoisted by equities researchers 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 currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price would indicate a potential upside of 29.03% from the company’s previous close.

Several other research analysts have also recently weighed in on LPTH. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of LightPath Technologies in a research report on Friday, September 20th. StockNews.com lowered 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. LightPath Technologies has a 12-month low of $1.04 and a 12-month high of $3.49. The firm’s 50-day simple moving average is $1.88 and its 200 day simple moving average is $1.52. 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 company has a market cap of $122.96 million, a price-to-earnings ratio of -14.09 and a beta of 1.32.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC boosted its stake in 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 acquiring an additional 12,600 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position 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 purchasing an additional 67,429 shares during the period. Finally, AIGH Capital Management LLC lifted its holdings in shares of LightPath Technologies by 5.7% during 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 in the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.