Union Square Park Capital Management LLC Takes Position in LightPath Technologies, Inc. $LPTH

Union Square Park Capital Management LLC purchased a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $502,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies in the third quarter valued at approximately $82,000. Wexford Capital LP purchased a new stake in LightPath Technologies during the third quarter valued at about $88,000. Jefferies Financial Group Inc. purchased a new stake in LightPath Technologies during the 3rd quarter valued at about $90,000. Jane Street Group LLC grew 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 purchasing an additional 29,054 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new stake in LightPath Technologies in the 1st quarter worth $123,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is owned by corporate insiders.

LightPath Technologies Trading Down 12.4%

Shares of LightPath Technologies stock opened at $10.83 on Friday. The firm has a market cap of $680.02 million, a price-to-earnings ratio of -21.66 and a beta of 1.34. LightPath Technologies, Inc. has a twelve month low of $2.91 and a twelve month high of $18.94. The business has a 50-day moving average price of $14.13 and a 200-day moving average price of $12.70. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. Equities research analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on LPTH shares. Canaccord Genuity Group upped their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.12.

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.