Royce & Associates LP Decreases Position in LightPath Technologies, Inc. $LPTH

Royce & Associates LP trimmed its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 23.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,294,982 shares of the technology company’s stock after selling 389,031 shares during the quarter. Royce & Associates LP owned 2.85% of LightPath Technologies worth $10,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in shares of LightPath Technologies in the 3rd quarter valued at approximately $953,000. Calamos Advisors LLC acquired a new position in LightPath Technologies during the 3rd quarter valued at approximately $1,322,000. Thompson Davis & CO. Inc. acquired a new position in LightPath Technologies during the 2nd quarter valued at approximately $137,000. Jane Street Group LLC raised 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 worth $122,000 after buying an additional 29,054 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of LightPath Technologies during the third quarter worth $106,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Stock Down 0.2%

Shares of LPTH opened at $11.98 on Wednesday. The company has a market capitalization of $691.37 million, a price-to-earnings ratio of -23.04 and a beta of 0.98. LightPath Technologies, Inc. has a 52 week low of $1.61 and a 52 week high of $15.24. The stock’s 50-day moving average price is $11.46 and its 200-day moving average price is $8.67. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Insider Activity

In related news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction on Monday, January 5th. The shares were 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 approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 1,803,767 shares of company stock valued at $21,801,875. Insiders own 24.80% of the company’s stock.

Wall Street Analysts Forecast Growth

LPTH has been the topic of several research reports. Lake Street Capital upped their target price on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Canaccord Genuity Group initiated coverage on LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, HC Wainwright raised their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.10.

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.