Royce & Associates LP Cuts Position in LightPath Technologies, Inc. $LPTH

Royce & Associates LP decreased its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 23.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,294,982 shares of the technology company’s stock after selling 389,031 shares during the quarter. Royce & Associates LP’s holdings in LightPath Technologies were worth $10,269,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LPTH. Granite Investment Partners LLC purchased a new stake in shares of LightPath Technologies in the third quarter valued at approximately $106,000. Vanguard Group Inc. grew its stake in LightPath Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after acquiring an additional 72,208 shares during the period. JPMorgan Chase & Co. purchased a new stake in LightPath Technologies in the 3rd quarter worth $183,000. Thompson Davis & CO. Inc. raised its position in LightPath Technologies by 31.3% during the third quarter. Thompson Davis & CO. Inc. now owns 56,909 shares of the technology company’s stock worth $451,000 after acquiring an additional 13,559 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in LightPath Technologies during the third quarter valued at $953,000. 56.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LPTH has been the subject of a number of research reports. Lake Street Capital boosted their target price on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Canaccord Genuity Group began coverage on LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective for the company. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Finally, LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

LightPath Technologies Price Performance

LPTH stock opened at $11.98 on Wednesday. The business has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $8.67. The firm has a market capitalization of $691.37 million, a PE ratio of -23.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.42. LightPath Technologies, Inc. has a 1 year low of $1.61 and a 1 year high of $15.24.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the transaction, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. The trade was 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. Insiders have sold 1,803,767 shares of company stock worth $21,801,875 over the last quarter. 24.80% of the stock is owned by insiders.

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.