Walleye Capital LLC reduced its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH – Free Report) by 35.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 254,855 shares of the technology company’s stock after selling 142,083 shares during the quarter. Walleye Capital LLC’s holdings in LightPath Technologies were worth $2,556,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Occudo Quantitative Strategies LP acquired a new stake in shares of LightPath Technologies in the 3rd quarter valued at about $82,000. Wexford Capital LP acquired a new position in LightPath Technologies in the third quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new position in LightPath Technologies in the third quarter worth about $90,000. Granite Investment Partners LLC acquired a new position in LightPath Technologies in the first quarter worth about $123,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in LightPath Technologies in the fourth quarter valued at about $163,000. Institutional investors own 56.29% of the company’s stock.
Insider Activity at LightPath Technologies
In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s 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 completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
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LightPath Technologies Trading Up 2.0%
NASDAQ:LPTH opened at $12.37 on Friday. The firm has a market capitalization of $776.71 million, a P/E ratio of -24.74 and a beta of 1.34. The business has a 50 day simple moving average of $14.15 and a 200 day simple moving average of $12.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. LightPath Technologies, Inc. has a 12-month low of $2.91 and a 12-month high of $18.94.
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 (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The company had revenue of $19.15 million for the quarter, compared to analysts’ expectations of $17.04 million. Equities research analysts predict that LightPath Technologies, Inc. will post -0.11 EPS for the current 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.
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