AIGH Capital Management LLC Cuts Stake in LightPath Technologies, Inc. $LPTH

AIGH Capital Management LLC cut its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) by 75.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 900,000 shares of the technology company’s stock after selling 2,742,377 shares during the quarter. LightPath Technologies accounts for approximately 2.0% of AIGH Capital Management LLC’s holdings, making the stock its 18th biggest holding. AIGH Capital Management LLC owned approximately 2.01% of LightPath Technologies worth $7,137,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Calamos Advisors LLC purchased a new position in LightPath Technologies in the 3rd quarter worth $1,322,000. Wealth Effects LLC increased its holdings in shares of LightPath Technologies by 9.7% in the third quarter. Wealth Effects LLC now owns 149,250 shares of the technology company’s stock worth $1,184,000 after buying an additional 13,250 shares during the period. Mink Brook Asset Management LLC bought a new stake in shares of LightPath Technologies in the 2nd quarter valued at about $246,000. Jane Street Group LLC boosted its holdings in LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after acquiring an additional 29,054 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new position in LightPath Technologies during the 2nd quarter worth approximately $137,000. 56.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the stock in a transaction 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 transaction, the director owned 2,728,968 shares in the company, valued at approximately $31,983,504.96. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LPTH has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Wednesday, October 8th. HC Wainwright upped their price target on shares of LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Lake Street Capital raised their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, LightPath Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.13.

LightPath Technologies Stock Down 13.2%

LPTH stock opened at $12.44 on Friday. LightPath Technologies, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $15.24. The business’s 50 day moving average price is $9.54 and its two-hundred day moving average price is $7.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.98. The company has a market capitalization of $566.39 million, a price-to-earnings ratio of -31.90 and a beta of 0.98.

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.