Union Square Park Capital Management LLC Takes $502,000 Position in LightPath Technologies, Inc. $LPTH

Union Square Park Capital Management LLC bought a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the technology company’s stock, valued at approximately $502,000. Union Square Park Capital Management LLC owned 0.08% of LightPath Technologies as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LPTH. Occudo Quantitative Strategies LP bought a new stake in LightPath Technologies during the 3rd quarter valued at $82,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter valued at about $88,000. Jefferies Financial Group Inc. bought a new stake in shares of LightPath Technologies during the third quarter worth about $90,000. Jane Street Group LLC raised its holdings in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of LightPath Technologies in the 1st quarter worth about $123,000. 56.29% of the stock is currently owned by institutional investors.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the sale, the director directly owned 2,934,828 shares in the company, valued at $41,087,592. The trade was a 54.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LPTH shares. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. 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 report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.12.

LightPath Technologies Trading Down 12.4%

Shares of LPTH stock opened at $10.83 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The company has a market capitalization of $680.02 million, a price-to-earnings ratio of -21.66 and a beta of 1.34. LightPath Technologies, Inc. has a 52-week low of $2.91 and a 52-week high of $18.94. The company has a 50-day simple moving average of $14.13 and a two-hundred day simple moving average of $12.70.

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, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $19.15 million for the quarter, compared to the consensus estimate of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. Research analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

About LightPath Technologies

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.