CenterBook Partners LP Buys 563,654 Shares of LightPath Technologies, Inc. $LPTH

Key Points

• CenterBook Partners increased its LightPath Technologies stake by 117.8% in the third quarter, adding 563,654 shares to reach 1,042,156 shares, worth about $10.7 million.
• Other institutional investors also reported buying shares; hedge funds and other institutions collectively owned 56.29% of LightPath.
• Analyst sentiment was mixed, but MarketBeat reported a “Moderate Buy” consensus and an average price target of $13.70. LightPath shares traded at $7.06 in Friday’s session, up 14.8%.

CenterBook Partners LP grew its position in LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 117.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042,156 shares of the technology company's stock after buying an additional 563,654 shares during the quarter. CenterBook Partners LP owned 1.49% of LightPath Technologies worth $10,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Asset One Wealth Management LLC raised its stake in LightPath Technologies by 125.1% during the 3rd quarter. Asset One Wealth Management LLC now owns 79,285 shares of the technology company's stock worth $817,000 after acquiring an additional 44,069 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its position in LightPath Technologies by 16.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 46,100 shares of the technology company's stock valued at $475,000 after purchasing an additional 6,500 shares during the period. Compass Financial Management LLC acquired a new position in shares of LightPath Technologies during the 3rd quarter worth $35,000. Gerber Kawasaki Wealth & Investment Management acquired a new position in LightPath Technologies during the third quarter worth $113,000. Finally, Inspire Investing LLC acquired a new stake in shares of LightPath Technologies in the third quarter valued at approximately $628,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

LightPath Technologies Trading Up 14.8%

LightPath Technologies stock traded up $0.91 on Friday, reaching $7.06. 2,935,279 shares of the stock were exchanged, compared to its average volume of 3,017,839. LightPath Technologies, Inc. has a twelve month low of $5.83 and a twelve month high of $18.94. The stock has a market cap of $494.84 million, a PE ratio of -17.65 and a beta of 1.53. The firm has a fifty day moving average price of $9.11 and a two-hundred day moving average price of $11.79.

Analyst Ratings Changes

Several equities analysts recently weighed in on LPTH shares. Wall Street Zen lowered LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th. Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research note on Thursday, October 15th. Piper Sandler cut their price objective on shares of LightPath Technologies from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, October 23rd. Finally, Canaccord Genuity Group dropped their target price on LightPath Technologies from $16.50 to $15.50 and set a "buy" rating on the stock in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.70.

LightPath Technologies Company Profile

LightPath Technologies, Inc is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company's products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths.

Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.

Want to see what other hedge funds are holding LPTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.