LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Update

Key Points

• LightPath Technologies experienced a significant increase in short interest in August, rising by 38.4% to a total of 384,200 shares as of August 15th.
• Shares of LightPath Technologies traded down by 6.3% on a recent Monday, reaching a price of $5.31, amid higher trading volume compared to its average.
• Equities research analysts have generally given LightPath Technologies a Moderate Buy consensus rating, with a price target average of $5.38 and some upgrades in their ratings.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 384,200 shares, an increase of 38.4% from the July 31st total of 277,700 shares. Based on an average daily trading volume, of 333,500 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 333,500 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LPTH. Connective Capital Management LLC bought a new position in LightPath Technologies in the fourth quarter valued at approximately $733,000. Wealth Effects LLC boosted its position in shares of LightPath Technologies by 176.3% during the first quarter. Wealth Effects LLC now owns 128,500 shares of the technology company's stock worth $258,000 after purchasing an additional 82,000 shares in the last quarter. Mink Brook Asset Management LLC bought a new position in shares of LightPath Technologies during the second quarter worth $246,000. Royce & Associates LP boosted its position in shares of LightPath Technologies by 4.7% during the first quarter. Royce & Associates LP now owns 1,294,578 shares of the technology company's stock worth $2,602,000 after purchasing an additional 58,194 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of LightPath Technologies during the second quarter worth $137,000. 56.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research raised shares of LightPath Technologies to a "hold" rating in a report on Tuesday, August 12th. HC Wainwright increased their price target on shares of LightPath Technologies from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised shares of LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $5.38.

LightPath Technologies Trading Up 3.6%

LPTH stock traded up $0.19 during midday trading on Friday, reaching $5.49. The company's stock had a trading volume of 759,887 shares, compared to its average volume of 1,344,542. LightPath Technologies has a 52 week low of $1.11 and a 52 week high of $6.44. The stock has a market cap of $244.03 million, a PE ratio of -21.12 and a beta of 1.10. The company has a quick ratio of 1.26, a current ratio of 2.30 and a debt-to-equity ratio of 0.33. The business's 50-day simple moving average is $3.94 and its 200-day simple moving average is $2.94.

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.