MYDA Advisors LLC Decreases Holdings in LightPath Technologies, Inc. $LPTH

MYDA Advisors LLC trimmed its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 500,000 shares of the technology company’s stock after selling 51,250 shares during the period. LightPath Technologies makes up 1.0% of MYDA Advisors LLC’s portfolio, making the stock its 21st biggest position. MYDA Advisors LLC’s holdings in LightPath Technologies were worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in LightPath Technologies during the 3rd quarter worth $953,000. Portolan Capital Management LLC purchased a new stake in LightPath Technologies during the 3rd quarter worth $12,939,000. HUB Investment Partners LLC boosted its position in LightPath Technologies by 141.0% during the 3rd quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after purchasing an additional 117,000 shares during the period. Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies during the 3rd quarter worth $8,445,000. Finally, AIGH Capital Management LLC boosted its position in LightPath Technologies by 14.5% during the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after purchasing an additional 130,738 shares during the period. 56.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on LPTH shares. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group upped their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.13.

LightPath Technologies Stock Performance

NASDAQ:LPTH opened at $14.26 on Monday. 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 50-day moving average of $13.98 and a two-hundred day moving average of $11.75. The stock has a market cap of $895.39 million, a P/E ratio of -28.52 and a beta of 1.32. LightPath Technologies, Inc. has a 1-year low of $2.75 and a 1-year high of $18.94.

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

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 4,287,258 shares of company stock valued at $58,744,883. 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.