Apis Capital Advisors LLC Buys 344,000 Shares of LightPath Technologies, Inc. $LPTH

Apis Capital Advisors LLC lifted its stake in LightPath Technologies, Inc. (NASDAQ:LPTH) by 430.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 424,000 shares of the technology company’s stock after purchasing an additional 344,000 shares during the period. Apis Capital Advisors LLC owned about 0.73% of LightPath Technologies worth $4,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. lifted its stake in LightPath Technologies by 45.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after acquiring an additional 5,223 shares during the period. Thompson Davis & CO. Inc. lifted its stake in LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock worth $687,000 after acquiring an additional 6,691 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in LightPath Technologies by 41.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after acquiring an additional 8,300 shares during the period. Lake Street Private Wealth LLC purchased a new stake in LightPath Technologies in the fourth quarter worth about $108,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies in the third quarter worth about $82,000. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $14.60 on Thursday. The stock has a market capitalization of $916.73 million, a price-to-earnings ratio of -29.20 and a beta of 1.33. LightPath Technologies, Inc. has a 12 month low of $2.75 and a 12 month high of $18.94. The firm’s 50 day simple moving average is $14.19 and its 200-day simple moving average is $11.92. 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 (NASDAQ:LPTH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. The firm had revenue of $19.15 million for the quarter, compared to analysts’ expectations of $17.04 million. Analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on LPTH shares. Canaccord Genuity Group increased their price target on shares of LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the sale, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 4,166,804 shares of company stock worth $57,298,390. Insiders own 24.80% of the company’s stock.

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.