LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Update

LightPath Technologies, Inc. (NASDAQ:LPTH) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,107,214 shares, an increase of 43.5% from the December 15th total of 1,468,042 shares. Based on an average daily trading volume, of 1,946,188 shares, the days-to-cover ratio is currently 1.1 days. Approximately 6.2% of the shares of the company are short sold. Approximately 6.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,946,188 shares, the days-to-cover ratio is currently 1.1 days.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH traded down $0.60 during trading on Friday, reaching $12.57. 3,608,565 shares of the company’s stock traded hands, compared to its average volume of 2,488,275. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. LightPath Technologies has a fifty-two week low of $1.61 and a fifty-two week high of $15.04. The company has a 50-day simple moving average of $8.93 and a 200-day simple moving average of $6.76. The firm has a market cap of $572.31 million, a PE ratio of -32.23 and a beta of 0.98.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the completion of the sale, the director directly owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. The trade was a 22.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its stake 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 during the period. Wealth Effects LLC increased its holdings in LightPath Technologies by 5.8% in the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock worth $419,000 after acquiring an additional 7,500 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in LightPath Technologies in the 2nd quarter worth $137,000. J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies during the second quarter worth $79,000. Finally, Marathon Capital Management purchased a new position in LightPath Technologies during the second quarter valued at $54,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LPTH. Lake Street Capital raised their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. HC Wainwright boosted their price objective on LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

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.