LightPath Technologies, Inc. $LPTH Shares Sold by MYDA Advisors LLC

MYDA Advisors LLC cut its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 9.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 500,000 shares of the technology company’s stock after selling 51,250 shares during the period. LightPath Technologies accounts for about 1.0% of MYDA Advisors LLC’s holdings, making the stock its 21st biggest position. MYDA Advisors LLC owned 0.87% of LightPath Technologies worth $5,400,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Landscape Capital Management L.L.C. acquired a new position in LightPath Technologies in the 4th quarter valued at $267,000. Barclays PLC acquired a new position in LightPath Technologies in the 4th quarter valued at $383,000. Walleye Capital LLC raised its holdings in LightPath Technologies by 3,716.3% in the 4th quarter. Walleye Capital LLC now owns 396,938 shares of the technology company’s stock valued at $4,287,000 after acquiring an additional 386,537 shares during the last quarter. AWM Investment Company Inc. raised its holdings in LightPath Technologies by 40.9% in the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after acquiring an additional 592,500 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in LightPath Technologies by 489.4% in the 4th quarter. Hudson Bay Capital Management LP now owns 62,080 shares of the technology company’s stock valued at $670,000 after acquiring an additional 51,548 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 4,287,258 shares of company stock worth $58,744,883. 24.80% of the stock is owned by insiders.

Analyst Ratings Changes

LPTH has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Canaccord Genuity Group boosted their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.13.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $14.26 on Monday. LightPath Technologies, Inc. has a 52-week low of $2.75 and a 52-week high of $18.94. The firm has a fifty day moving average of $13.98 and a 200-day moving average of $11.75. The stock has a market capitalization of $895.39 million, a PE ratio of -28.52 and a beta of 1.32. 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 announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The company had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. On average, analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

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.