Short Interest in LightPath Technologies, Inc. (NASDAQ:LPTH) Grows By 48.6%

Key Points

• LightPath Technologies, Inc. (NASDAQ:LPTH) experienced a 48.6% increase in short interest in August, rising from 384,200 shares to 570,800 shares.
• Analysts have recently upgraded LightPath's rating, with HC Wainwright increasing the target price from $6.00 to $7.00 and maintaining a “buy” rating.
• Institutional investors collectively hold 56.29% of LightPath's stock, with notable increases from firms like Northern Trust Corp and Jane Street Group LLC.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 570,800 shares, an increase of 48.6% from the August 15th total of 384,200 shares. Based on an average daily trading volume, of 554,500 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.5% of the shares of the company are sold short. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 554,500 shares, the days-to-cover ratio is presently 1.0 days.

LightPath Technologies Price Performance

Shares of NASDAQ:LPTH traded up $0.91 during trading on Friday, reaching $7.24. The stock had a trading volume of 2,803,881 shares, compared to its average volume of 1,737,797. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.30 and a quick ratio of 1.26. The business's 50-day moving average price is $4.30 and its 200 day moving average price is $3.09. LightPath Technologies has a 52 week low of $1.15 and a 52 week high of $7.34. The stock has a market capitalization of $321.82 million, a PE ratio of -27.85 and a beta of 1.10.

Wall Street Analyst Weigh In

LPTH has been the topic of a number of recent research reports. HC Wainwright lifted their target price on LightPath Technologies from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Wall Street Zen upgraded shares of LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Zacks Research upgraded shares of LightPath Technologies to a "hold" rating in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.38.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in LightPath Technologies in the 4th quarter worth approximately $32,000. Millennium Management LLC bought a new position in LightPath Technologies in the 4th quarter worth approximately $53,000. Marathon Capital Management bought a new position in LightPath Technologies in the 2nd quarter worth approximately $54,000. J.W. Cole Advisors Inc. bought a new position in LightPath Technologies in the 2nd quarter worth approximately $79,000. Finally, Jane Street Group LLC bought a new position in LightPath Technologies in the 4th quarter worth approximately $111,000. Institutional investors own 56.29% of the company's stock.

About LightPath Technologies

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.