Stock market today: S&P 500 falls as job cuts stoke economic fears, tech stutters
Investing.com - H.C. Wainwright raised its price target on LightPath Technologies (NASDAQ:LPTH) to $7.00 from $6.00 on Thursday, while maintaining a Buy rating on the optical solutions provider. The stock, currently trading at $5.58, has a strong Buy consensus among analysts according to InvestingPro data, though technical indicators suggest the stock may be in overbought territory.
The price target increase follows LightPath’s announcement of a new $18.2 million infrared camera systems order from an unnamed global technology customer, with delivery expected in 2026. The company also anticipates receiving an additional $22 million order from the same customer for 2027 delivery, though this has not yet been finalized.
LightPath shares rose 13.7% in Wednesday trading, outperforming the Russell 2000 index which declined 0.1%. The stock has demonstrated remarkable momentum, with InvestingPro data showing a 350% return over the past year and a 58% gain year-to-date. H.C. Wainwright noted that demand is being driven by "favorable geopolitical tailwinds in the defense sector," which it expects to continue for at least three years.
The firm highlighted that LightPath’s acquisition of G5 Infrared has strengthened its position in high-growth areas including shipboard long-range surveillance, border security, and counter UAS systems. Additionally, China’s restrictions on germanium exports may push defense contractors toward alternatives like LightPath’s BlackDiamond glass.
H.C. Wainwright increased its FY26 revenue estimate for LightPath to $56 million from $52 million previously, noting that the new order puts the company on track to exceed its previously issued $55 million revenue target. With a market capitalization of $240 million and revenue growth forecast of 17% for FY2025, the company maintains a healthy liquidity position with a current ratio of 2.3. Discover more financial insights and 12 additional ProTips for LPTH on InvestingPro.
In other recent news, LightPath Technologies has secured an $18.2 million purchase order for advanced infrared camera systems, with delivery scheduled for 2026. This order significantly enhances the company’s defense and government backlog. Additionally, LightPath has an agreement that could lead to further orders totaling up to $22 million for delivery in 2027, potentially bringing the total value to $40 million over two years. H.C. Wainwright has raised its price target for LightPath Technologies from $5.00 to $6.00, maintaining a Buy rating, and highlighted the company’s strategic positioning in government sector growth opportunities.
In personnel news, LightPath appointed Stephen L. Mielke, Ph.D., as Vice President of Engineering. Dr. Mielke brings over 20 years of experience in the photonics industry, having previously worked at Luminar Technologies and Zygo Corporation. Furthermore, LightPath’s subsidiary, G5 Infrared, has started production of high-end cooled infrared cameras using BlackDiamond™ Glass, moving away from Germanium due to export restrictions from China. This shift reflects LightPath’s adaptation to global supply chain challenges and its focus on proprietary technology.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.