Granahan Investment Management LLC Acquires Shares of 656,020 LightPath Technologies, Inc. $LPTH

Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 656,020 shares of the technology company’s stock, valued at approximately $7,085,000. Granahan Investment Management LLC owned about 1.14% of LightPath Technologies as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LPTH. Occudo Quantitative Strategies LP purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $84,000. Wexford Capital LP purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $88,000. Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $90,000. Finally, Granite Investment Partners LLC purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $106,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Activity at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on 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 owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,166,804 shares of company stock worth $57,298,390 over the last ninety days. 24.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Canaccord Genuity Group lifted their price objective on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Price Performance

Shares of LightPath Technologies stock opened at $14.33 on Wednesday. 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 twelve month low of $2.75 and a twelve month high of $18.94. The business has a 50-day moving average price of $14.12 and a 200 day moving average price of $11.86. The firm has a market cap of $899.78 million, a PE ratio of -28.66 and a beta of 1.33.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $17.04 million. Sell-side analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share 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.