Monashee Investment Management LLC Buys Shares of 100,000 LightPath Technologies, Inc. $LPTH

Monashee Investment Management LLC bought a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) during the 4th quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the technology company’s stock, valued at approximately $1,080,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in LightPath Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after acquiring an additional 72,208 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in LightPath Technologies in the third quarter worth about $12,939,000. Goldman Sachs Group Inc. boosted its holdings in LightPath Technologies by 14.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock worth $15,656,000 after acquiring an additional 181,538 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the third quarter worth about $8,445,000. Finally, AIGH Capital Management LLC boosted its holdings in LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after acquiring an additional 130,738 shares in the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Trading Up 9.5%

LightPath Technologies stock opened at $15.64 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. LightPath Technologies, Inc. has a 52 week low of $2.75 and a 52 week high of $18.94. The company has a market capitalization of $982.04 million, a price-to-earnings ratio of -31.28 and a beta of 1.33. The stock has a 50-day moving average price of $13.90 and a 200 day moving average price of $11.70.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. Sell-side analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies 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 sale, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 4,287,258 shares of company stock worth $58,744,883 over the last three months. Insiders own 24.80% of the company’s stock.

Wall Street Analyst Weigh In

LPTH has been the subject of several recent analyst reports. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Canaccord Genuity Group raised their price target on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Finally, HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

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.