Monashee Investment Management LLC Makes New $1.08 Million Investment in LightPath Technologies, Inc. $LPTH

Monashee Investment Management LLC bought a new position in LightPath Technologies, Inc. (NASDAQ:LPTH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the technology company’s stock, valued at approximately $1,080,000. Monashee Investment Management LLC owned 0.22% of LightPath Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Street Private Wealth LLC purchased a new stake in LightPath Technologies in the fourth quarter worth $108,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies in the third quarter worth $82,000. Hudson Bay Capital Management LP purchased a new position in shares of LightPath Technologies during the third quarter valued at $84,000. Wexford Capital LP purchased a new position in shares of LightPath Technologies during the third quarter valued at $88,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies during the third quarter valued at $90,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, the director owned 2,934,828 shares in the company, valued at $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,287,258 shares of company stock valued at $58,744,883 in the last 90 days. 24.80% of the stock is owned by insiders.

LightPath Technologies Price Performance

LPTH opened at $15.64 on Friday. The business’s 50-day moving average is $13.90 and its two-hundred day moving average is $11.70. LightPath Technologies, Inc. has a 1 year low of $2.75 and a 1 year high of $18.94. 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 $982.04 million, a PE ratio of -31.28 and a beta of 1.33.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $17.04 million. Research analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LPTH. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Canaccord Genuity Group raised their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

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.