Connective Capital Management LLC Acquires Shares of 207,597 LightPath Technologies, Inc. (NASDAQ:LPTH)

Connective Capital Management LLC acquired a new stake in LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 207,597 shares of the technology company's stock, valued at approximately $733,000. LightPath Technologies comprises 0.9% of Connective Capital Management LLC's holdings, making the stock its 23rd biggest position. Connective Capital Management LLC owned approximately 0.52% of LightPath Technologies at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LPTH. Millennium Management LLC bought a new position in LightPath Technologies during the 4th quarter worth $53,000. Cubist Systematic Strategies LLC acquired a new position in shares of LightPath Technologies in the fourth quarter worth approximately $32,000. Jane Street Group LLC acquired a new position in shares of LightPath Technologies in the fourth quarter worth approximately $111,000. Northern Trust Corp boosted its holdings in LightPath Technologies by 25.7% in the fourth quarter. Northern Trust Corp now owns 63,983 shares of the technology company's stock valued at $226,000 after acquiring an additional 13,087 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in LightPath Technologies by 101.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,800 shares of the technology company's stock valued at $109,000 after acquiring an additional 15,500 shares during the last quarter. 56.29% of the stock is currently owned by institutional investors and hedge funds.

LightPath Technologies Trading Down 0.4%

LPTH traded down $0.01 during trading on Friday, hitting $2.37. The company's stock had a trading volume of 40,391 shares, compared to its average volume of 164,050. LightPath Technologies, Inc. has a twelve month low of $1.04 and a twelve month high of $4.42. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.03. The stock's fifty day moving average price is $2.16 and its 200-day moving average price is $2.41. The firm has a market capitalization of $101.67 million, a P/E ratio of -9.87 and a beta of 0.84.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. The company had revenue of $9.17 million during the quarter, compared to the consensus estimate of $8.78 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. Analysts anticipate that LightPath Technologies, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LPTH. Craig Hallum began coverage on shares of LightPath Technologies in a research report on Monday, April 28th. They issued a "buy" rating and a $5.50 price target on the stock. Wall Street Zen downgraded shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, HC Wainwright restated a "buy" rating and issued a $5.00 target price on shares of LightPath Technologies in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, LightPath Technologies presently has an average rating of "Moderate Buy" and an average price target of $4.88.

LightPath Technologies Profile

LightPath Technologies, Inc designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light; and infrared products, including catalog and custom infrared optics.