Bradley Foster & Sargent Inc. CT Takes Position in LightPath Technologies, Inc. $LPTH

Bradley Foster & Sargent Inc. CT acquired a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 53,333 shares of the technology company’s stock, valued at approximately $535,000. Bradley Foster & Sargent Inc. CT owned 0.08% of LightPath Technologies at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AWM Investment Company Inc. increased its stake in shares of LightPath Technologies by 40.9% in the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Vanguard Group Inc. increased its stake in LightPath Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock worth $15,603,000 after buying an additional 72,208 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in LightPath Technologies by 14.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after acquiring an additional 181,538 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of LightPath Technologies in the third quarter valued at about $8,445,000. Finally, AIGH Capital Management LLC boosted its stake in shares of LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after acquiring an additional 130,738 shares during the period. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Transactions at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,864,452 shares of company stock worth $53,576,437 over the last quarter. 24.80% of the stock is owned by corporate insiders.

LightPath Technologies Price Performance

NASDAQ:LPTH opened at $10.92 on Tuesday. 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 capitalization of $685.67 million, a P/E ratio of -21.84 and a beta of 1.34. LightPath Technologies, Inc. has a 12 month low of $2.91 and a 12 month high of $18.94. The business’s 50-day moving average is $14.10 and its 200 day moving average is $12.71.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The company had revenue of $19.15 million during the quarter, compared to analyst estimates of $17.04 million. On average, equities research analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on LPTH. Canaccord Genuity Group reissued a “buy” rating and set a $16.50 target price on shares of LightPath Technologies in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.12.

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.