Renaissance Technologies LLC Boosts Holdings in LightPath Technologies, Inc. $LPTH

Renaissance Technologies LLC increased its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 55.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 395,922 shares of the technology company’s stock after purchasing an additional 141,473 shares during the quarter. Renaissance Technologies LLC’s holdings in LightPath Technologies were worth $3,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies in the third quarter valued at $82,000. Wexford Capital LP acquired a new stake in shares of LightPath Technologies during the third quarter worth about $88,000. Jefferies Financial Group Inc. acquired a new stake in shares of LightPath Technologies during the third quarter worth about $90,000. Jane Street Group LLC lifted its holdings in shares of LightPath Technologies by 92.1% in the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after purchasing an additional 29,054 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of LightPath Technologies in the 1st quarter valued at about $123,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LPTH. Canaccord Genuity Group restated a “buy” rating and set a $16.50 price target on shares of LightPath Technologies in a research note on Monday, July 27th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. One 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 given a Sell rating to the company. According to data from MarketBeat, LightPath Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $14.12.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,864,452 shares of company stock valued at $53,576,437 in the last three months. Corporate insiders own 24.80% of the company’s stock.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $13.06 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 business has a 50 day simple moving average of $13.23 and a 200-day simple moving average of $12.63. LightPath Technologies, Inc. has a 12 month low of $3.36 and a 12 month high of $18.94. The stock has a market capitalization of $820.02 million, a PE ratio of -26.12 and a beta of 1.39.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting 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. Equities analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

About LightPath Technologies

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.