308,000 Shares in LightPath Technologies, Inc. $LPTH Bought by ING Groep NV

ING Groep NV acquired a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 308,000 shares of the technology company’s stock, valued at approximately $3,326,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lake Street Private Wealth LLC purchased a new position in LightPath Technologies in the 4th quarter valued at $108,000. Occudo Quantitative Strategies LP purchased a new position in LightPath Technologies in the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP purchased a new position in LightPath Technologies in the 3rd quarter valued at $84,000. Wexford Capital LP purchased a new position in LightPath Technologies in the 3rd quarter valued at $88,000. Finally, Jefferies Financial Group Inc. purchased a new position in LightPath Technologies in the 3rd quarter valued at $90,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction 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 owned 2,934,828 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 4,287,258 shares of company stock worth $58,744,883. 24.80% of the stock is owned by insiders.

LightPath Technologies Stock Up 0.7%

NASDAQ LPTH opened at $15.04 on Tuesday. LightPath Technologies, Inc. has a 52 week low of $2.75 and a 52 week high of $18.94. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $11.53. The firm has a market cap of $944.36 million, a PE ratio of -30.08 and a beta of 1.32.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly 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 return on equity of 15.55% and a negative net margin of 37.38%.The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. As a group, equities analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LPTH shares. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. HC Wainwright raised their price objective on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Canaccord Genuity Group raised their price objective on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. One equities research 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 company. According to MarketBeat.com, LightPath Technologies has an average rating of “Moderate Buy” and an average price target of $14.13.

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.