Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Expands By 31.0%

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 2,775,694 shares, a growth of 31.0% from the January 15th total of 2,118,428 shares. Based on an average daily volume of 3,839,194 shares, the days-to-cover ratio is currently 0.7 days. Approximately 8.1% of the shares of the stock are sold short. Approximately 8.1% of the shares of the stock are sold short. Based on an average daily volume of 3,839,194 shares, the days-to-cover ratio is currently 0.7 days.

LightPath Technologies Stock Down 7.7%

Shares of NASDAQ:LPTH opened at $11.52 on Monday. The company has a market cap of $664.82 million, a price-to-earnings ratio of -22.15 and a beta of 0.97. LightPath Technologies has a 12 month low of $1.61 and a 12 month high of $15.24. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $10.60 and a 200 day moving average price of $7.98.

Insider Transactions at LightPath Technologies

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

Institutional Trading of LightPath Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LPTH. Walleye Capital LLC boosted its stake in LightPath Technologies by 3,716.3% during the fourth quarter. Walleye Capital LLC now owns 396,938 shares of the technology company’s stock worth $4,287,000 after buying an additional 386,537 shares during the period. 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 purchasing an additional 592,500 shares during the period. Hudson Bay Capital Management LP grew its holdings in LightPath Technologies by 489.4% during the 4th quarter. Hudson Bay Capital Management LP now owns 62,080 shares of the technology company’s stock valued at $670,000 after purchasing an additional 51,548 shares during the last quarter. Monashee Investment Management LLC bought a new position in LightPath Technologies during the 4th quarter valued at about $1,080,000. Finally, T3 Companies LLC purchased a new stake in LightPath Technologies in the 4th quarter worth about $176,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday. Lake Street Capital raised their price objective on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Canaccord Genuity Group initiated coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.10.

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.