LightPath Technologies, Inc. $LPTH Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC increased its stake in LightPath Technologies, Inc. (NASDAQ:LPTH) by 14.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 753,621 shares of the technology company’s stock after buying an additional 97,601 shares during the quarter. Granahan Investment Management LLC’s holdings in LightPath Technologies were worth $7,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies in the 3rd quarter valued at about $82,000. Wexford Capital LP acquired a new stake in shares of LightPath Technologies in the 3rd quarter worth approximately $88,000. Jefferies Financial Group Inc. bought a new position in shares of LightPath Technologies in the third quarter valued at approximately $90,000. Jane Street Group LLC boosted its holdings in shares of LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after acquiring an additional 29,054 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of LightPath Technologies in the first quarter valued at approximately $123,000. Institutional investors own 56.29% of the company’s stock.

Analysts Set New Price Targets

LPTH has been the topic of several recent analyst reports. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Canaccord Genuity Group lifted their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.12.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction 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 sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 3,864,452 shares of company stock valued at $53,576,437. Insiders own 24.80% of the company’s stock.

LightPath Technologies Trading Down 12.4%

LightPath Technologies stock opened at $10.83 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The firm has a market cap of $680.02 million, a price-to-earnings ratio of -21.66 and a beta of 1.34. LightPath Technologies, Inc. has a 1 year low of $2.91 and a 1 year high of $18.94. The firm’s 50 day moving average price is $14.13 and its two-hundred day moving average price is $12.70.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting 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 company had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. On average, research analysts predict that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal 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.