Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Grows By 43.5%

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 2,107,214 shares, a growth of 43.5% from the December 15th total of 1,468,042 shares. Approximately 6.2% of the company’s shares are short sold. Based on an average daily volume of 1,946,188 shares, the short-interest ratio is currently 1.1 days. Based on an average daily volume of 1,946,188 shares, the short-interest ratio is currently 1.1 days. Approximately 6.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Lake Street Capital upped their target price on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. HC Wainwright raised their target price on shares of LightPath Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the sale, the director owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On LightPath Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thompson Davis & CO. Inc. boosted its position in shares of LightPath Technologies by 11.8% in 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 in the last quarter. SG Americas Securities LLC increased its position in LightPath Technologies by 211.2% during the 4th quarter. SG Americas Securities LLC now owns 54,408 shares of the technology company’s stock valued at $588,000 after buying an additional 36,925 shares in the last quarter. Lake Street Private Wealth LLC purchased a new position in LightPath Technologies during the fourth quarter valued at $108,000. JPMorgan Chase & Co. bought a new stake in LightPath Technologies in the third quarter worth $183,000. Finally, Tudor Investment Corp ET AL bought a new stake in LightPath Technologies in the third quarter worth $8,445,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Down 4.6%

NASDAQ:LPTH opened at $12.57 on Monday. The firm’s 50-day moving average price is $8.93 and its 200-day moving average price is $6.81. The company has a market capitalization of $572.31 million, a PE ratio of -32.23 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.26. LightPath Technologies has a 1-year low of $1.61 and a 1-year high of $15.04.

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.