Tidal Investments LLC Grows Position in LightPath Technologies, Inc. $LPTH

Tidal Investments LLC grew its position in LightPath Technologies, Inc. (NASDAQ:LPTH) by 10,315.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,952,629 shares of the technology company’s stock after acquiring an additional 1,933,881 shares during the quarter. Tidal Investments LLC’s holdings in LightPath Technologies were worth $31,925,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. bought a new position in shares of LightPath Technologies during the 2nd quarter valued at approximately $71,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies during the third quarter valued at $82,000. Wexford Capital LP purchased a new stake in LightPath Technologies during the third quarter valued at $88,000. Jefferies Financial Group Inc. bought a new position in LightPath Technologies during the third quarter valued at $90,000. Finally, Royal Bank of Canada lifted its position in LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after purchasing an additional 8,380 shares during the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $10.14 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The firm has a market capitalization of $636.68 million, a P/E ratio of -20.28 and a beta of 1.39. LightPath Technologies, Inc. has a 1-year low of $5.17 and a 1-year high of $18.94. The company’s 50-day moving average is $12.00 and its 200 day moving average is $12.75.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LPTH shares. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Canaccord Genuity Group dropped their price target on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, September 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Piper Sandler began coverage on LightPath Technologies in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.10.

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.