LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Up 20.0% in April

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 4,075,766 shares, an increase of 20.0% from the March 31st total of 3,397,858 shares. Based on an average trading volume of 2,113,914 shares, the short-interest ratio is presently 1.9 days. Currently, 9.4% of the company's shares are short sold.

LightPath Technologies Stock Down 4.0%

Shares of NASDAQ:LPTH opened at $12.19 on Thursday. The business has a 50-day moving average price of $12.05 and a 200 day moving average price of $10.33. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $703.47 million, a price-to-earnings ratio of -23.44 and a beta of 1.07. LightPath Technologies has a 12-month low of $2.21 and a 12-month high of $16.53.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LPTH. Weiss Ratings reiterated a "sell (d-)" rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Wall Street Zen lowered LightPath Technologies from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. HC Wainwright lifted their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Canaccord Genuity Group started coverage on LightPath Technologies in a research report on Thursday, January 29th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Lake Street Capital raised their price objective on LightPath Technologies from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.75.

Insider Activity at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 595,573 shares of LightPath Technologies stock in a transaction on Friday, February 20th. The stock was sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the transaction, the director owned 3,393,395 shares in the company, valued at $42,519,239.35. The trade was a 14.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 2,131,247 shares of company stock worth $26,122,799. 24.80% of the stock is owned by insiders.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies in the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP acquired a new stake in shares of LightPath Technologies during the third quarter worth about $84,000. Wexford Capital LP acquired a new stake in shares of LightPath Technologies during the third quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies in the third quarter valued at approximately $90,000. Finally, Granite Investment Partners LLC purchased a new position in shares of LightPath Technologies in the third quarter valued at approximately $106,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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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