Y Intercept Hong Kong Ltd bought a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 59,853 shares of the technology company’s stock, valued at approximately $600,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock valued at $579,000 after buying an additional 3,276 shares during the period. Jefferies Financial Group Inc. raised its holdings in shares of LightPath Technologies by 45.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after purchasing an additional 5,223 shares during the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock valued at $687,000 after purchasing an additional 6,691 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of LightPath Technologies by 41.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock valued at $307,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Lake Street Private Wealth LLC bought a new position in shares of LightPath Technologies during the fourth quarter valued at about $108,000. 56.29% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is currently owned by company insiders.
LightPath Technologies Price Performance
LightPath Technologies (NASDAQ:LPTH – Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. Research analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group increased their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.12.
View Our Latest Stock Report on LightPath Technologies
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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