Sei Investments Co. Acquires 229,515 Shares of LightPath Technologies, Inc. $LPTH

Sei Investments Co. raised its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 74.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 538,788 shares of the technology company’s stock after buying an additional 229,515 shares during the period. Sei Investments Co.’s holdings in LightPath Technologies were worth $5,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock valued at $579,000 after acquiring an additional 3,276 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after acquiring an additional 5,223 shares during the period. OMERS ADMINISTRATION Corp grew its position in LightPath Technologies by 41.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after acquiring an additional 8,300 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in LightPath Technologies during the 3rd quarter worth approximately $82,000. Finally, Wexford Capital LP purchased a new position in LightPath Technologies in the 3rd quarter worth approximately $88,000. 56.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LPTH has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.50 price objective on shares of LightPath Technologies in a research report on Monday, July 27th. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. One investment 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 stock. Based on data from MarketBeat, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $14.12.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s 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 transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was 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 this hyperlink. In the last 90 days, insiders sold 3,864,452 shares of company stock valued at $53,576,437. 24.80% of the stock is currently owned by company insiders.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $12.49 on Wednesday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The firm has a market cap of $784.25 million, a P/E ratio of -24.98 and a beta of 1.39. LightPath Technologies, Inc. has a 1-year low of $3.29 and a 1-year high of $18.94. The firm has a 50-day moving average of $13.54 and a 200-day moving average of $12.64.

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

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.