Wasatch Advisors LP Acquires Shares of 519,608 LightPath Technologies, Inc. $LPTH

Wasatch Advisors LP bought a new position in LightPath Technologies, Inc. (NASDAQ:LPTHFree Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 519,608 shares of the technology company’s stock, valued at approximately $8,496,000. Wasatch Advisors LP owned about 0.83% of LightPath Technologies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. PVG Asset Management Corp acquired a new stake in LightPath Technologies during the first quarter worth about $108,000. Bank of America Corp DE boosted its position in LightPath Technologies by 118.2% during the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock worth $5,577,000 after acquiring an additional 301,225 shares during the period. Royal Bank of Canada grew its position in LightPath Technologies by 707.2% in the 1st quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after buying an additional 8,380 shares in the last quarter. Union Square Park Capital Management LLC acquired a new position in shares of LightPath Technologies during the 1st quarter valued at $502,000. Finally, Bradley Foster & Sargent Inc. CT bought a new position in shares of LightPath Technologies during the 1st quarter valued at about $535,000. 56.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LPTH. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Piper Sandler initiated coverage on shares of LightPath Technologies in a report on Wednesday. They set an “overweight” rating and a $15.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.30.

Read Our Latest Analysis on LPTH

LightPath Technologies Price Performance

LPTH opened at $13.73 on Thursday. LightPath Technologies, Inc. has a 12 month low of $3.36 and a 12 month high of $18.94. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $862.11 million, a P/E ratio of -27.46 and a beta of 1.39. The company has a fifty day simple moving average of $13.05 and a 200 day simple moving average of $12.61.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies 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 transaction, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 24.80% of the company’s stock.

LightPath Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for LightPath Technologies (NASDAQ:LPTH)

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