Telemark Asset Management LLC Acquires New Holdings in LightPath Technologies, Inc. $LPTH

Telemark Asset Management LLC acquired a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 385,000 shares of the technology company’s stock, valued at approximately $4,158,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 buying an additional 72,208 shares during the period. Portolan Capital Management LLC purchased a new stake in LightPath Technologies in the 3rd quarter valued at about $12,939,000. Goldman Sachs Group Inc. raised its holdings in LightPath Technologies by 14.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after buying an additional 181,538 shares during the period. Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the 3rd quarter valued at about $8,445,000. Finally, AIGH Capital Management LLC raised its holdings in LightPath Technologies by 14.5% in the 4th quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock valued at $11,132,000 after buying an additional 130,738 shares during the period. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

LightPath Technologies Stock Down 15.3%

Shares of NASDAQ:LPTH opened at $14.93 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 firm has a market capitalization of $937.45 million, a PE ratio of -29.86 and a beta of 1.33. The firm’s 50-day moving average is $13.51 and its two-hundred day moving average is $11.43. LightPath Technologies, Inc. has a 1 year low of $2.75 and a 1 year high of $18.94.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly 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). The company had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. Analysts predict that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Transactions at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 4,287,258 shares of company stock worth $58,744,883 in the last 90 days. 24.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LPTH. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright boosted their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group boosted 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. One investment 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. According to MarketBeat.com, the stock 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.