Tidal Investments LLC Raises Stock Holdings in LightPath Technologies, Inc. $LPTH

Tidal Investments LLC grew its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 10,315.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,952,629 shares of the technology company’s stock after buying an additional 1,933,881 shares during the period. Tidal Investments LLC owned 3.11% of LightPath Technologies worth $31,925,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares during the period. Mink Brook Asset Management LLC bought a new position in shares of LightPath Technologies in the second quarter worth approximately $246,000. JPMorgan Chase & Co. bought a new position in shares of LightPath Technologies in the third quarter worth approximately $183,000. Vanguard Group Inc. increased its stake in shares of LightPath Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after purchasing an additional 72,208 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of LightPath Technologies in the third quarter worth $90,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

LightPath Technologies Trading Down 5.7%

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

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.