LightPath Technologies, Inc. $LPTH Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 5,064.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,075 shares of the technology company’s stock after purchasing an additional 68,718 shares during the quarter. Larson Financial Group LLC’s holdings in LightPath Technologies were worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LPTH. Jane Street Group LLC boosted its position in LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after purchasing an additional 29,054 shares during the period. Mink Brook Asset Management LLC acquired a new position in LightPath Technologies during the 2nd quarter valued at approximately $246,000. SG Americas Securities LLC acquired a new position in LightPath Technologies during the 3rd quarter valued at approximately $139,000. Principal Financial Group Inc. acquired a new position in LightPath Technologies during the 3rd quarter valued at approximately $953,000. Finally, Thompson Davis & CO. Inc. boosted its position in LightPath Technologies by 31.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 56,909 shares of the technology company’s stock valued at $451,000 after purchasing an additional 13,559 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Stock Down 1.7%

Shares of LightPath Technologies stock opened at $13.65 on Thursday. The business’s fifty day moving average price is $12.26 and its two-hundred day moving average price is $10.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The company has a market capitalization of $857.08 million, a P/E ratio of -27.30 and a beta of 1.26. LightPath Technologies, Inc. has a 1-year low of $2.21 and a 1-year high of $16.53.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The firm had revenue of $19.15 million for the quarter, compared to the consensus estimate of $17.04 million. As a group, research analysts forecast that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HC Wainwright lifted their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Canaccord Genuity Group lifted their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.13.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 165,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.16, for a total value of $2,006,400.00. Following the completion of the sale, the director owned 2,990,112 shares in the company, valued at $36,359,761.92. This represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 2,424,299 shares of company stock valued at $29,699,636 in the last ninety days. Corporate insiders own 24.80% of the company’s stock.

LightPath Technologies Profile

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.