Counterpoint Mutual Funds LLC Invests $4.25 Million in LightPath Technologies, Inc. $LPTH

Counterpoint Mutual Funds LLC acquired a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 423,658 shares of the technology company’s stock, valued at approximately $4,249,000. Counterpoint Mutual Funds LLC owned approximately 0.73% of LightPath Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies during the third quarter valued at approximately $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $84,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $88,000. Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $90,000. Finally, Lake Street Private Wealth LLC bought a new stake in shares of LightPath Technologies during the 4th quarter worth approximately $108,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction that occurred 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 directly owned 2,934,828 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Over the last quarter, insiders sold 3,864,452 shares of company stock worth $53,576,437. 24.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LPTH has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Canaccord Genuity Group upped their price target on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.12.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $14.56 on Friday. LightPath Technologies, Inc. has a 52 week low of $2.75 and a 52 week high of $18.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The stock has a market capitalization of $914.22 million, a P/E ratio of -29.12 and a beta of 1.34. The stock has a 50-day simple moving average of $14.42 and a 200 day simple moving average of $12.41.

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

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.