LightPath Technologies, Inc. (NASDAQ:LPTH) Short Interest Up 38.4% in August

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) was the target of a large increase in short interest in August. As of August 15th, there was short interest totaling 384,200 shares, anincreaseof38.4% 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

Several hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in LightPath Technologies during the fourth quarter worth about $32,000. Millennium Management LLC acquired a new stake in shares of LightPath Technologies in the 4th quarter valued at approximately $53,000. Marathon Capital Management acquired a new stake in shares of LightPath Technologies in the 2nd quarter valued at approximately $54,000. Ironwood Investment Counsel LLC boosted its stake in LightPath Technologies by 14.8% during the 1st quarter. Ironwood Investment Counsel LLC now owns 32,150 shares of the technology company's stock worth $65,000 after acquiring an additional 4,150 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies during the second quarter valued at approximately $79,000. Institutional investors and hedge funds own 56.29% of the company's stock.

LightPath Technologies Trading Down 6.3%

Shares of LPTH stock traded down $0.36 during trading hours on Monday, reaching $5.31. The company had a trading volume of 600,234 shares, compared to its average volume of 350,631. LightPath Technologies has a 1-year low of $1.04 and a 1-year high of $6.44. 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 firm has a market cap of $236.03 million, a price-to-earnings ratio of -20.42 and a beta of 1.09. The company has a 50 day moving average of $3.71 and a 200 day moving average of $2.84.

Wall Street Analyst Weigh In

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

LightPath Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.