683 Capital Management LLC Makes New $1.44 Million Investment in LightPath Technologies, Inc. $LPTH

683 Capital Management LLC purchased a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 133,595 shares of the technology company’s stock, valued at approximately $1,443,000.

Other hedge funds have also recently modified their holdings of the company. Occudo Quantitative Strategies LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth about $82,000. Hudson Bay Capital Management LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth about $84,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the 3rd quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new stake in LightPath Technologies during the 3rd quarter valued at about $90,000. Finally, Granite Investment Partners LLC purchased a new stake in LightPath Technologies during the 3rd quarter valued at about $106,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

LightPath Technologies Stock Performance

LightPath Technologies stock opened at $14.60 on Thursday. The firm has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $11.92. LightPath Technologies, Inc. has a 1-year low of $2.75 and a 1-year high of $18.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The stock has a market cap of $916.73 million, a price-to-earnings ratio of -29.20 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LPTH shares. Wall Street Zen cut shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Canaccord Genuity Group upped their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.13.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred on 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 sale, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 4,166,804 shares of company stock valued at $57,298,390. Corporate insiders own 24.80% of the company’s stock.

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.