Bradley Foster & Sargent Inc. CT Purchases New Shares in LightPath Technologies, Inc. $LPTH

Bradley Foster & Sargent Inc. CT acquired a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) during the first quarter, Holdings Channel.com reports. The firm acquired 53,333 shares of the technology company’s stock, valued at approximately $535,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jane Street Group LLC boosted its stake in shares of LightPath Technologies by 92.1% during the 1st 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 period. Mink Brook Asset Management LLC bought a new stake in LightPath Technologies in the second quarter worth about $246,000. JPMorgan Chase & Co. purchased a new position in shares of LightPath Technologies during the third quarter valued at approximately $183,000. Vanguard Group Inc. boosted its position in shares of LightPath Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after buying an additional 72,208 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of LightPath Technologies during the third quarter valued at approximately $90,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm’s stock in a transaction 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 in the company, valued at $41,087,592. This trade represents a 54.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 3,864,452 shares of company stock worth $53,576,437. Company insiders own 24.80% of the company’s stock.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $10.92 on Tuesday. The stock has a market cap of $685.67 million, a price-to-earnings ratio of -21.84 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. LightPath Technologies, Inc. has a 1 year low of $2.91 and a 1 year high of $18.94. The firm has a 50-day moving average of $14.10 and a two-hundred day moving average of $12.71.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LPTH. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Friday, July 17th. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.50 target price on shares of LightPath Technologies in a research note on Monday. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.