Walleye Capital LLC Cuts Stock Position in LightPath Technologies, Inc. $LPTH

Walleye Capital LLC decreased its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 35.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,855 shares of the technology company’s stock after selling 142,083 shares during the quarter. Walleye Capital LLC owned about 0.41% of LightPath Technologies worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LPTH. Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the 3rd quarter valued at $8,445,000. Granahan Investment Management LLC acquired a new position in shares of LightPath Technologies during the fourth quarter worth about $7,085,000. AWM Investment Company Inc. lifted its stake in shares of LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of LightPath Technologies in the third quarter worth about $3,669,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of LightPath Technologies in the first quarter worth about $4,249,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction that occurred 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 in the company, valued at $41,087,592. The trade was a 54.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 3,864,452 shares of company stock worth $53,576,437. 24.80% of the stock is owned by company insiders.

LightPath Technologies Stock Performance

Shares of LPTH stock opened at $12.37 on Friday. 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 company’s fifty day moving average price is $14.15 and its two-hundred day moving average price is $12.72. The firm has a market capitalization of $776.71 million, a P/E ratio of -24.74 and a beta of 1.34. LightPath Technologies, Inc. has a 12 month low of $2.91 and a 12 month high of $18.94.

LightPath Technologies (NASDAQ:LPTH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting 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 business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. On average, research analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LPTH has been the topic of several analyst reports. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Canaccord Genuity Group upped their price target on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.