Counterpoint Mutual Funds LLC Invests $4.25 Million in LightPath Technologies, Inc. $LPTH

Counterpoint Mutual Funds LLC bought a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the 1st quarter, Holdings Channel reports. The fund bought 423,658 shares of the technology company’s stock, valued at approximately $4,249,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LPTH. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies in the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP acquired a new stake in LightPath Technologies during the third quarter worth approximately $84,000. Wexford Capital LP bought a new stake in shares of LightPath Technologies during the third quarter worth approximately $88,000. Jefferies Financial Group Inc. bought a new stake in shares of LightPath Technologies during the third quarter worth approximately $90,000. Finally, Lake Street Private Wealth LLC acquired a new position in shares of LightPath Technologies in the fourth quarter valued at approximately $108,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LPTH. Canaccord Genuity Group increased their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings reaffirmed 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.12.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares in the company, valued at approximately $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 3,864,452 shares of company stock valued at $53,576,437 in the last three months. Insiders own 24.80% of the company’s stock.

LightPath Technologies Price Performance

Shares of LightPath Technologies stock opened at $14.56 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $914.22 million, a price-to-earnings ratio of -29.12 and a beta of 1.34. LightPath Technologies, Inc. has a twelve month low of $2.75 and a twelve month high of $18.94. The company has a 50-day simple moving average of $14.42 and a two-hundred day simple moving average of $12.41.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. Analysts forecast that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

LightPath Technologies 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.