Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Increases By 49.7%

LightPath Technologies, Inc. (NASDAQ:LPTH) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,490,000 shares, a growth of 49.7% from the September 30th total of 995,600 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 3.9% of the shares of the company are sold short. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of LightPath Technologies

Several institutional investors have recently added to or reduced their stakes in LPTH. Royce & Associates LP boosted its holdings in shares of LightPath Technologies by 4.7% during the 1st quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company’s stock worth $2,602,000 after buying an additional 58,194 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $1,322,000. Wealth Effects LLC boosted its holdings in shares of LightPath Technologies by 9.7% during the 3rd quarter. Wealth Effects LLC now owns 149,250 shares of the technology company’s stock worth $1,184,000 after buying an additional 13,250 shares in the last quarter. Mink Brook Asset Management LLC bought a new position in shares of LightPath Technologies during the 2nd quarter worth approximately $246,000. Finally, Jane Street Group LLC boosted its holdings in shares of LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after buying an additional 29,054 shares in the last quarter. 56.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LPTH. HC Wainwright boosted their price target on LightPath Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. Zacks Research raised LightPath Technologies to a “hold” rating in a research note on Tuesday, August 12th. Lake Street Capital boosted their price target on LightPath Technologies from $4.00 to $7.50 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.50.

LightPath Technologies Trading Down 3.4%

Shares of LightPath Technologies stock traded down $0.28 on Tuesday, hitting $7.88. The stock had a trading volume of 539,616 shares, compared to its average volume of 668,817. The stock has a 50 day moving average of $7.23 and a 200 day moving average of $4.46. LightPath Technologies has a twelve month low of $1.40 and a twelve month high of $10.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.66. The firm has a market capitalization of $357.96 million, a P/E ratio of -21.93 and a beta of 1.18.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, September 25th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). LightPath Technologies had a negative net margin of 39.92% and a negative return on equity of 53.40%. The firm had revenue of $12.21 million during the quarter, compared to analyst estimates of $12.20 million. During the same period in the prior year, the company earned ($0.06) EPS. Sell-side analysts expect that LightPath Technologies will post -0.18 earnings per share for the current fiscal year.

About LightPath Technologies

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.