Royce & Associates LP Decreases Holdings in LightPath Technologies, Inc. $LPTH

Royce & Associates LP decreased its position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 1,124,621 shares of the technology company’s stock after selling 170,361 shares during the quarter. Royce & Associates LP’s holdings in LightPath Technologies were worth $12,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LPTH. Jane Street Group LLC raised its holdings in shares of LightPath Technologies by 92.1% in the first 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 last quarter. Mink Brook Asset Management LLC purchased a new position in shares of LightPath Technologies in the second quarter worth $246,000. SG Americas Securities LLC purchased a new position in shares of LightPath Technologies in the third quarter worth $139,000. Principal Financial Group Inc. purchased a new position in shares of LightPath Technologies in the third quarter worth $953,000. Finally, Thompson Davis & CO. Inc. raised its holdings in shares of 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 purchasing an additional 13,559 shares during the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 381,004 shares of LightPath Technologies stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.18, for a total value of $4,640,628.72. Following the completion of the transaction, the director owned 3,075,527 shares of the company’s stock, valued at approximately $37,459,918.86. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,390,853 shares of company stock valued at $16,925,923 over the last three months. 24.80% of the stock is currently owned by insiders.

LightPath Technologies Stock Up 8.4%

LPTH opened at $17.61 on Thursday. LightPath Technologies, Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $18.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The company has a fifty day moving average of $12.81 and a two-hundred day moving average of $11.01. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -35.22 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The company had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. On average, research analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on LPTH shares. Canaccord Genuity Group raised their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Monday. HC Wainwright raised their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.13.

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.