LightPath Technologies, Inc. $LPTH Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in LightPath Technologies, Inc. (NASDAQ:LPTH) by 55.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 395,922 shares of the technology company’s stock after acquiring an additional 141,473 shares during the period. Renaissance Technologies LLC owned about 0.63% of LightPath Technologies worth $3,971,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies in the fourth quarter valued at $7,085,000. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% during the 4th 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 in the last quarter. Russell Investments Group Ltd. purchased a new position in LightPath Technologies during the 3rd quarter valued at about $3,669,000. Counterpoint Mutual Funds LLC purchased a new position in LightPath Technologies during the 1st quarter valued at about $4,249,000. Finally, Peregrine Investment Management Inc. acquired a new position in LightPath Technologies in the 1st quarter valued at about $4,012,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.12.

Insiders Place Their Bets

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 3,864,452 shares of company stock valued at $53,576,437 in the last 90 days. 24.80% of the stock is owned by company insiders.

LightPath Technologies Trading Up 8.7%

NASDAQ LPTH opened at $13.06 on Friday. LightPath Technologies, Inc. has a 52 week low of $3.36 and a 52 week high of $18.94. The firm has a 50 day moving average of $13.23 and a two-hundred day moving average of $12.63. 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 $820.02 million, a PE ratio of -26.12 and a beta of 1.39.

LightPath Technologies (NASDAQ:LPTH) last announced 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). The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. As a group, research analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

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.