In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on Lightpath Technologies (NASDAQ: LPTH), with a price target of $2.60. The company’s shares opened today at $2.12, close to its 52-week low of $1.97.
Sherbetchyan commented:
“Buy-rated LightPath Technologies (LPTH, $2.60 PT) will report F4Q18 (June) results AMC on Thursday, 9/13, and hold its conference call at 4:30pm ET (dial-in: Recall, on 8/9 LPTH released preliminary F4Q results expecting revenues between $7.8M-$8.1M, materially below our $9.0M and consensus $8.9M estimate at the time of the release. We now model F4Q18 revenue/adj. EBITDA/adj. EPS of $7.9M/$1.0M/$0.00, respectively. During the quarter LPTH experienced capacity constraints associated with its infrared (IR) lenses (deferring some IR shipments from F4Q to future periods) which was further exacerbated by high germanium prices.”
According to TipRanks.com, Sherbetchyan is ranked #643 out of 4872 analysts.
Currently, the analyst consensus on Lightpath Technologies is a Moderate Buy with an average price target of $2.60, a 22.6% upside from current levels. In a report issued on August 15, Roth Capital also reiterated a Buy rating on the stock with a $2.60 price target.
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Lightpath Technologies’ market cap is currently $54.68M and has a P/E ratio of 6.85. The company has a Price to Book ratio of 1.52.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LPTH in relation to earlier this year. Most recently, in June 2018, Joseph Gaynor, the President & CEO of LPTH bought 20,000 shares for a total of $19,600.
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LightPath Technologies, Inc. designs, develops, manufactures and distributes optical and infrared components. Its products include molded glass aspheres and assemblies; infrared molded lenses, diamond turned, conventional ground and polished and CNC ground lenses and assemblies; and Gradium lenses.
