Granahan Investment Management LLC Grows Holdings in LightPath Technologies, Inc. $LPTH

Key Points

• Granahan Investment Management increased its LightPath Technologies stake by 14.9% in Q1, buying 97,601 more shares and ending with 753,621 shares worth about $7.56 million.
• Several other hedge funds also adjusted their positions, and institutional investors now own 56.29% of LightPath’s stock. Meanwhile, insiders have been selling, including a major June 3 sale of 3.57 million shares by Director Run Strategic Opportunit North.
• Analyst sentiment is mixed: LightPath has a Moderate Buy consensus rating with a $14.12 price target, but recent actions included a downgrade from Wall Street Zen and a sell rating from Weiss Ratings.

Granahan Investment Management LLC lifted its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 753,621 shares of the technology company's stock after buying an additional 97,601 shares during the quarter. Granahan Investment Management LLC owned approximately 1.20% of LightPath Technologies worth $7,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in LPTH. Tudor Investment Corp ET AL acquired a new position in LightPath Technologies in the third quarter worth about $8,445,000. AIGH Capital Management LLC increased its holdings in LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company's stock valued at $11,132,000 after buying an additional 130,738 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in LightPath Technologies during the fourth quarter valued at approximately $1,080,000. Harbor Capital Advisors Inc. acquired a new stake in LightPath Technologies during the fourth quarter valued at approximately $672,000. Finally, Telemark Asset Management LLC bought a new position in LightPath Technologies during the 4th quarter worth approximately $4,158,000. Institutional investors and hedge funds own 56.29% of the company's stock.

Insiders Place Their Bets

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 3,864,452 shares of company stock valued at $53,576,437. Company insiders own 24.80% of the company's stock.

Analyst Upgrades and Downgrades

LPTH has been the subject of several research reports. Wall Street Zen lowered LightPath Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Canaccord Genuity Group upped their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Monday, May 11th. 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, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.12.

LightPath Technologies Stock Down 12.4%

Shares of LightPath Technologies stock opened at $10.83 on Friday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The business's 50 day simple moving average is $14.13 and its 200-day simple moving average is $12.70. The stock has a market capitalization of $680.02 million, a price-to-earnings ratio of -21.66 and a beta of 1.34. LightPath Technologies, Inc. has a twelve month low of $2.91 and a twelve month high of $18.94.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The firm had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. Equities research analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

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.

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