AIGH Capital Management LLC trimmed its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH – Free Report) by 90.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the technology company’s stock after selling 930,738 shares during the quarter. AIGH Capital Management LLC’s holdings in LightPath Technologies were worth $1,003,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. AWM Investment Company Inc. boosted its stake in shares of LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after acquiring an additional 592,500 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after acquiring an additional 72,208 shares during the last quarter. Portolan Capital Management LLC bought a new position in shares of LightPath Technologies in the 3rd quarter valued at approximately $12,939,000. Goldman Sachs Group Inc. raised its stake in shares of LightPath Technologies by 14.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after acquiring an additional 181,538 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the 3rd quarter worth approximately $8,445,000. 56.29% of the stock is currently owned by institutional investors.
LightPath Technologies Trading Down 0.2%
LightPath Technologies stock opened at $12.67 on Thursday. 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 business’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $12.57. The firm has a market capitalization of $795.55 million, a PE ratio of -25.34 and a beta of 1.34. LightPath Technologies, Inc. has a 52 week low of $2.75 and a 52 week high of $18.94.
Insider Activity at LightPath Technologies
In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 3,864,452 shares of company stock worth $53,576,437 in the last three months. 24.80% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
LPTH has been the subject of a number of recent analyst reports. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group boosted their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. One investment 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 MarketBeat, LightPath Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $14.12.
Check Out Our Latest Stock Report on LPTH
LightPath Technologies Company 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.
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