120,121 Shares in LightPath Technologies, Inc. $LPTH Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 120,121 shares of the technology company’s stock, valued at approximately $953,000. Principal Financial Group Inc. owned approximately 0.26% of LightPath Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Calamos Advisors LLC acquired a new stake in LightPath Technologies in the third quarter valued at $1,322,000. Mink Brook Asset Management LLC purchased a new position in shares of LightPath Technologies in the 2nd quarter valued at about $246,000. Thompson Davis & CO. Inc. acquired a new stake in shares of LightPath Technologies during the 2nd quarter worth about $137,000. Jane Street Group LLC lifted its stake in LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after purchasing an additional 29,054 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies in the second quarter valued at approximately $79,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Stock Up 0.5%

Shares of NASDAQ:LPTH opened at $11.24 on Thursday. LightPath Technologies, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $15.24. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $10.75 and its 200-day simple moving average is $8.12. The company has a market cap of $648.66 million, a price-to-earnings ratio of -21.62 and a beta of 0.97.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s 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 sale, the director owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. This trade represents a 22.01% 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. 24.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LPTH. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Canaccord Genuity Group began coverage on LightPath Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $15.00 target price on the stock. HC Wainwright upped their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.10.

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.