RFG Advisory LLC Makes New $5.88 Million Investment in LightPath Technologies, Inc. $LPTH

Key Points

• RFG Advisory LLC acquired 359,542 shares of LightPath Technologies valued at approximately $5.88 million, giving it a 0.57% stake. Institutional investors collectively own 56.29% of the company.
• LightPath shares opened at $10.14, below their 50-day and 200-day moving averages of $12.00 and $12.75, respectively. The stock has traded between $5.17 and $18.94 over the past year.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $14.10; ratings include four Buys, one Strong Buy and one Sell.

RFG Advisory LLC purchased a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 359,542 shares of the technology company's stock, valued at approximately $5,879,000. RFG Advisory LLC owned approximately 0.57% of LightPath Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Waterhouse Canada Inc. bought a new position in LightPath Technologies in the 2nd quarter worth about $71,000. Occudo Quantitative Strategies LP bought a new stake in LightPath Technologies during the 3rd quarter valued at about $82,000. Wexford Capital LP purchased a new position in LightPath Technologies in the third quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new position in LightPath Technologies in the third quarter worth about $90,000. Finally, Royal Bank of Canada lifted its stake in shares of LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company's stock worth $96,000 after buying an additional 8,380 shares in the last quarter. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Price Performance

Shares of LightPath Technologies stock opened at $10.14 on Thursday. The stock's fifty day moving average is $12.00 and its 200 day moving average is $12.75. The stock has a market cap of $636.68 million, a P/E ratio of -20.28 and a beta of 1.39. 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LPTH. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. Wall Street Zen cut LightPath Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Piper Sandler started coverage on LightPath Technologies in a research note on Wednesday, August 12th. They set an "overweight" rating and a $15.00 target price on the stock. Finally, Canaccord Genuity Group reduced their target price on LightPath Technologies from $16.50 to $15.50 and set a "buy" rating for the company in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, LightPath Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $14.10.

LightPath Technologies 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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