FirstWave Capital Management LLC Acquires Shares of 103,995 LightPath Technologies, Inc. $LPTH

Key Points

• FirstWave Capital Management acquired 103,995 shares of LightPath Technologies valued at approximately $1.7 million, representing about 0.17% of the company.
• Institutional ownership remains substantial at 56.29%, with several firms increasing or initiating positions, including Tema ETFs, which raised its stake to nearly 1.99 million shares.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $14.10 versus the stock’s recent price of $9.67, although some firms have issued sell ratings.

FirstWave Capital Management LLC bought a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 103,995 shares of the technology company's stock, valued at approximately $1,700,000. FirstWave Capital Management LLC owned about 0.17% of LightPath Technologies at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LPTH. Bank of America Corp DE grew its position in LightPath Technologies by 118.2% during the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company's stock worth $5,577,000 after purchasing an additional 301,225 shares during the last quarter. Wasatch Advisors LP purchased a new position in shares of LightPath Technologies during the second quarter worth about $8,496,000. Renaissance Technologies LLC grew its holdings in shares of LightPath Technologies by 55.6% during the first quarter. Renaissance Technologies LLC now owns 395,922 shares of the technology company's stock worth $3,971,000 after buying an additional 141,473 shares during the last quarter. Monashee Investment Management LLC acquired a new position in LightPath Technologies in the 4th quarter valued at about $1,080,000. Finally, Tema ETFs LLC raised its stake in LightPath Technologies by 129,258.4% during the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company's stock valued at $32,487,000 after acquiring an additional 1,985,409 shares during the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

LightPath Technologies Price Performance

LightPath Technologies stock opened at $9.67 on Friday. LightPath Technologies, Inc. has a one year low of $5.17 and a one year high of $18.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. The business has a fifty day moving average of $12.32 and a two-hundred day moving average of $12.78. The company has a market cap of $607.18 million, a P/E ratio of -19.34 and a beta of 1.39.

Analyst Ratings Changes

Several research analysts have weighed in on LPTH shares. Piper Sandler initiated coverage on LightPath Technologies in a research note on Wednesday, August 12th. They issued an "overweight" rating and a $15.00 target price on the stock. Canaccord Genuity Group lowered their price objective on shares of LightPath Technologies from $16.50 to $15.50 and set a "buy" rating on the stock in a research report on Tuesday. Wall Street Zen downgraded shares of LightPath Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.10.

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.

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