Connective Capital Management LLC Invests $733,000 in LightPath Technologies, Inc. (NASDAQ:LPTH)

Connective Capital Management LLC purchased a new position in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 207,597 shares of the technology company’s stock, valued at approximately $733,000. LightPath Technologies comprises about 0.9% of Connective Capital Management LLC’s portfolio, making the stock its 23rd largest position.

Several other institutional investors have also modified their holdings of LPTH. Crewe Advisors LLC bought a new position in shares of LightPath Technologies during the fourth quarter worth about $28,000. Cubist Systematic Strategies LLC bought a new position in shares of LightPath Technologies during the fourth quarter worth about $32,000. Millennium Management LLC bought a new position in shares of LightPath Technologies during the fourth quarter worth about $53,000. Legato Capital Management LLC bought a new position in LightPath Technologies in the 4th quarter valued at about $83,000. Finally, J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies during the 4th quarter valued at about $87,000. Institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Down 10.2%

LightPath Technologies stock opened at $2.21 on Wednesday. The stock has a market cap of $94.81 million, a price-to-earnings ratio of -9.21 and a beta of 0.84. The company has a current ratio of 1.53, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $2.15 and its two-hundred day moving average price is $2.40. LightPath Technologies, Inc. has a 52 week low of $1.04 and a 52 week high of $4.42.

LightPath Technologies (NASDAQ:LPTH) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). LightPath Technologies had a negative net margin of 28.57% and a negative return on equity of 31.13%. The business had revenue of $9.17 million for the quarter, compared to the consensus estimate of $8.78 million. During the same quarter last year, the business posted ($0.07) EPS. On average, analysts expect that LightPath Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Craig Hallum assumed coverage on shares of LightPath Technologies in a research note on Monday, April 28th. They set a “buy” rating and a $5.50 target price on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of LightPath Technologies in a research note on Monday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

LightPath Technologies 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.