Granahan Investment Management LLC Buys Shares of 656,020 LightPath Technologies, Inc. $LPTH

Granahan Investment Management LLC bought a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 656,020 shares of the technology company’s stock, valued at approximately $7,085,000.

A number of other hedge funds have also made changes to their positions in the company. Jefferies Financial Group Inc. raised its holdings in shares of LightPath Technologies by 45.8% during the fourth 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 last quarter. Thompson Davis & CO. Inc. boosted its holdings in shares of LightPath Technologies by 11.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after purchasing an additional 6,691 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of 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 purchasing an additional 8,300 shares during the last quarter. Lake Street Private Wealth LLC acquired a new position in shares of LightPath Technologies during the 4th quarter worth approximately $108,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $82,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Insiders sold 4,166,804 shares of company stock valued at $57,298,390 in the last 90 days. Corporate insiders own 24.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LPTH shares. Canaccord Genuity Group boosted their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, LightPath Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $14.13.

LightPath Technologies Trading Down 4.4%

Shares of LightPath Technologies stock opened at $14.33 on Wednesday. The stock has a market cap of $899.78 million, a P/E ratio of -28.66 and a beta of 1.33. The stock’s 50 day simple moving average is $14.12 and its 200-day simple moving average is $11.86. LightPath Technologies, Inc. has a 1-year low of $2.75 and a 1-year high of $18.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $19.15 million for the quarter, compared to analysts’ expectations of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. Analysts predict that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal 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.