LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Update

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 2,775,694 shares, an increase of 31.0% from the January 15th total of 2,118,428 shares. Based on an average daily volume of 3,839,194 shares, the short-interest ratio is presently 0.7 days. Currently, 8.1% of the company’s stock are short sold. Currently, 8.1% of the company’s stock are short sold. Based on an average daily volume of 3,839,194 shares, the short-interest ratio is presently 0.7 days.

LightPath Technologies Price Performance

NASDAQ LPTH opened at $11.52 on Monday. The company has a market capitalization of $664.82 million, a PE ratio of -22.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The business’s fifty day moving average is $10.60 and its 200 day moving average is $7.98. LightPath Technologies has a fifty-two week low of $1.61 and a fifty-two week high of $15.24.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the sale, the director directly owned 2,728,968 shares of the company’s stock, valued at $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPTH. Jane Street Group LLC increased its stake 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 worth $122,000 after purchasing an additional 29,054 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of LightPath Technologies during the 2nd quarter valued at $137,000. J.W. Cole Advisors Inc. bought a new position in LightPath Technologies in the 2nd quarter worth $79,000. Marathon Capital Management purchased a new stake in LightPath Technologies in the 2nd quarter worth $54,000. Finally, Mink Brook Asset Management LLC bought a new stake in LightPath Technologies during the second quarter valued at about $246,000. Institutional investors own 56.29% of the company’s stock.

Analysts Set New Price Targets

LPTH has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. Lake Street Capital upped their price objective on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.10.

About LightPath Technologies

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.