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

LightPath Technologies, Inc. (NASDAQ:LPTH) saw a large growth in short interest in the month of 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. Currently, 8.1% of the shares of the company are sold short. Based on an average daily volume of 3,839,194 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 3,839,194 shares, the days-to-cover ratio is currently 0.7 days. Currently, 8.1% of the shares of the company are sold short.

Insider Buying and Selling

In other news, Director Run Strategic Opportunit North sold 770,321 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, the director owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. This represents a 22.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors have recently bought and sold shares of LPTH. Marathon Capital Management bought a new position in shares of LightPath Technologies during the 2nd quarter valued at approximately $54,000. J.W. Cole Advisors Inc. purchased a new position in shares of LightPath Technologies in the 2nd quarter worth approximately $79,000. Occudo Quantitative Strategies LP purchased a new position in shares of LightPath Technologies during the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies during the third quarter valued at approximately $84,000. Finally, Wexford Capital LP purchased a new stake in LightPath Technologies in the third quarter worth $88,000. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Stock Down 3.0%

Shares of NASDAQ:LPTH traded down $0.34 on Tuesday, hitting $11.18. 2,101,310 shares of the company traded hands, compared to its average volume of 3,322,195. LightPath Technologies has a 52 week low of $1.61 and a 52 week high of $15.24. The stock has a 50 day simple moving average of $10.70 and a 200-day simple moving average of $8.10. The company has a market cap of $645.20 million, a PE ratio of -21.50 and a beta of 0.97. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

LPTH has been the topic of a number of research analyst reports. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Lake Street Capital lifted their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, HC Wainwright boosted their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently 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.