Polar Asset Management Partners Inc. Has $883,000 Stock Holdings in LightPath Technologies, Inc. $LPTH

Polar Asset Management Partners Inc. trimmed its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 53.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 88,000 shares of the technology company’s stock after selling 102,684 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in LightPath Technologies were worth $883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LPTH. Tudor Investment Corp ET AL bought a new stake in LightPath Technologies during the 3rd quarter worth about $8,445,000. Granahan Investment Management LLC bought a new position in shares of LightPath Technologies in the fourth quarter worth about $7,085,000. AWM Investment Company Inc. raised its stake in shares of LightPath Technologies by 40.9% in the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after acquiring an additional 592,500 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of LightPath Technologies during the third quarter worth approximately $3,669,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of LightPath Technologies during the first quarter valued at approximately $4,249,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analyst Weigh In

LPTH has been the subject of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $16.50 price target on shares of LightPath Technologies in a report on Monday. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.12.

Insiders Place Their Bets

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

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $10.92 on Tuesday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. LightPath Technologies, Inc. has a 1 year low of $2.91 and a 1 year high of $18.94. The company has a market cap of $685.67 million, a PE ratio of -21.84 and a beta of 1.34. The company’s 50-day moving average is $14.10 and its two-hundred day moving average is $12.71.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $17.04 million. Equities analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

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.