Y Intercept Hong Kong Ltd Makes New Investment in LightPath Technologies, Inc. $LPTH

Y Intercept Hong Kong Ltd purchased a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,853 shares of the technology company’s stock, valued at approximately $600,000. Y Intercept Hong Kong Ltd owned 0.10% of LightPath Technologies at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of LightPath Technologies by 92.1% during 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 in the last quarter. Mink Brook Asset Management LLC acquired a new stake in LightPath Technologies in the 2nd quarter valued at approximately $246,000. JPMorgan Chase & Co. acquired a new stake in LightPath Technologies in the 3rd quarter valued at approximately $183,000. Vanguard Group Inc. lifted its stake in LightPath Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after acquiring an additional 72,208 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in LightPath Technologies in the 3rd quarter valued at approximately $90,000. 56.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.12.

LightPath Technologies Stock Down 6.0%

LPTH opened at $11.03 on Tuesday. The stock has a fifty day moving average of $14.27 and a 200-day moving average of $12.64. The company has a market capitalization of $692.57 million, a P/E ratio of -22.06 and a beta of 1.34. LightPath Technologies, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $18.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. On average, equities analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the 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 sale, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 3,864,452 shares of company stock worth $53,576,437. Corporate insiders own 24.80% of the company’s stock.

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.