LightPath Technologies, Inc. $LPTH Shares Acquired by Tema ETFs LLC

Tema ETFs LLC lifted its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 129,258.4% during the second quarter, Holdings Channel reports. The firm owned 1,986,945 shares of the technology company’s stock after purchasing an additional 1,985,409 shares during the quarter. LightPath Technologies makes up approximately 1.1% of Tema ETFs LLC’s portfolio, making the stock its 24th largest holding. Tema ETFs LLC’s holdings in LightPath Technologies were worth $32,487,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $82,000. Wexford Capital LP acquired a new stake in LightPath Technologies during the 3rd quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new stake in LightPath Technologies during the third quarter valued at about $90,000. Royal Bank of Canada lifted its stake in LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after buying an additional 8,380 shares in the last quarter. Finally, PVG Asset Management Corp acquired a new position in shares of LightPath Technologies in the first quarter worth about $108,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

LightPath Technologies Stock Up 4.1%

NASDAQ:LPTH opened at $13.09 on Wednesday. The firm has a market capitalization of $821.92 million, a price-to-earnings ratio of -26.18 and a beta of 1.39. LightPath Technologies, Inc. has a 1-year low of $3.36 and a 1-year high of $18.94. 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 business’s fifty day moving average price is $13.09 and its 200 day moving average price is $12.61.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LPTH shares. Canaccord Genuity Group reissued a “buy” rating and issued a $16.50 target price on shares of LightPath Technologies in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, LightPath Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.12.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 24.80% of the company’s stock.

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.