RFG Advisory LLC Invests $5.88 Million in LightPath Technologies, Inc. $LPTH

RFG Advisory LLC bought a new position in LightPath Technologies, Inc. (NASDAQ:LPTH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 359,542 shares of the technology company’s stock, valued at approximately $5,879,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPTH. California State Teachers Retirement System bought a new stake in LightPath Technologies in the 2nd quarter worth approximately $204,000. FirstWave Capital Management LLC bought a new position in shares of LightPath Technologies during the 2nd quarter valued at approximately $1,700,000. TD Waterhouse Canada Inc. purchased a new position in shares of LightPath Technologies in the second quarter valued at $71,000. Round Rock Advisors LLC grew its holdings in shares of LightPath Technologies by 59.5% in the second quarter. Round Rock Advisors LLC now owns 30,691 shares of the technology company’s stock valued at $502,000 after purchasing an additional 11,452 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in LightPath Technologies in the second quarter worth $41,488,000. 56.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LPTH has been the subject of several research reports. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Piper Sandler started coverage on LightPath Technologies in a research report on Wednesday, August 12th. They set an “overweight” rating and a $15.00 price objective on the stock. Canaccord Genuity Group dropped their target price on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a report on Tuesday, September 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.10.

LightPath Technologies Stock Performance

Shares of LPTH stock opened at $10.14 on Thursday. LightPath Technologies, Inc. has a 12-month low of $5.17 and a 12-month high of $18.94. The business’s fifty day simple moving average is $12.00 and its 200-day simple moving average is $12.75. 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 company has a market cap of $636.68 million, a PE ratio of -20.28 and a beta of 1.39.

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.