Polar Asset Management Partners Inc. Sells 102,684 Shares of LightPath Technologies, Inc. $LPTH

Key Points

• Polar Asset Management Partners cut its LightPath Technologies stake by 53.9% in the first quarter, selling 102,684 shares and retaining 88,000 shares worth approximately $883,000.
• Analyst sentiment remains mixed but leans positive, with LightPath carrying a “Moderate Buy” consensus rating and a $14.12 average price target; Canaccord Genuity set a $16.50 target while other firms issued sell ratings.
• LightPath reported quarterly revenue of $19.15 million, exceeding estimates, while earnings matched expectations at a loss of $0.02 per share. Insiders have also sold roughly 3.86 million shares worth $53.6 million over the past 90 days.

Polar Asset Management Partners Inc. reduced its stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 53.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,000 shares of the technology company's stock after selling 102,684 shares during the quarter. Polar Asset Management Partners Inc. owned 0.14% of LightPath Technologies worth $883,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Occudo Quantitative Strategies LP acquired a new stake in LightPath Technologies in the 3rd quarter worth $82,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter valued at about $88,000. Jefferies Financial Group Inc. acquired a new position in shares of LightPath Technologies during the third quarter valued at about $90,000. Granite Investment Partners LLC bought a new stake in shares of LightPath Technologies in the first quarter valued at about $123,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of LightPath Technologies in the fourth quarter valued at about $163,000. 56.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LPTH. Wall Street Zen lowered LightPath Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $16.50 price objective on shares of LightPath Technologies in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, LightPath Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $14.12.

LightPath Technologies Trading Up 0.8%

Shares of LPTH stock opened at $10.92 on Tuesday. The firm has a fifty day moving average of $14.10 and a 200-day moving average of $12.71. The stock has a market cap of $685.67 million, a price-to-earnings ratio of -21.84 and a beta of 1.34. LightPath Technologies, Inc. has a 52-week low of $2.91 and a 52-week 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.

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, meeting the consensus estimate of ($0.02). The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. On average, equities research analysts forecast that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 3,864,452 shares of company stock worth $53,576,437. 24.80% of the stock is owned by company insiders.

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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