LightPath Technologies, Inc. $LPTH Stock Bought by CenterBook Partners LP

CenterBook Partners LP boosted its holdings in LightPath Technologies, Inc. (NASDAQ:LPTH) by 117.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042,156 shares of the technology company’s stock after purchasing an additional 563,654 shares during the period. CenterBook Partners LP’s holdings in LightPath Technologies were worth $10,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Management LLC bought a new position in LightPath Technologies during the third quarter worth about $35,000. TD Waterhouse Canada Inc. acquired a new position in LightPath Technologies in the 2nd quarter valued at $71,000. Royal Bank of Canada lifted its position in LightPath Technologies by 707.2% during the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock worth $96,000 after purchasing an additional 8,380 shares during the period. PVG Asset Management Corp bought a new stake in shares of LightPath Technologies during the 1st quarter worth approximately $108,000. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of LightPath Technologies in the 3rd quarter valued at $113,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, October 15th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Canaccord Genuity Group lowered their price objective on LightPath Technologies from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, September 1st. Finally, Piper Sandler dropped their target price on shares of LightPath Technologies from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.70.

LightPath Technologies Trading Up 14.8%

Shares of LPTH stock traded up $0.91 on Friday, hitting $7.06. 2,935,279 shares of the stock were exchanged, compared to its average volume of 3,017,839. The firm has a market capitalization of $494.84 million, a PE ratio of -17.65 and a beta of 1.53. LightPath Technologies, Inc. has a one year low of $5.83 and a one year high of $18.94. The firm’s 50 day moving average is $9.11 and its two-hundred day moving average is $11.79.

LightPath Technologies Profile

LightPath Technologies, Inc is a photonics and optics manufacturer that develops, manufactures, and distributes precision optical components, assemblies, and imaging systems. The company’s products are designed for applications that require the control, transmission, or detection of light across visible, near-infrared, and infrared wavelengths.

Its product portfolio includes precision-molded glass aspheric lenses, infrared optics, coated optical components, custom optical assemblies, and thermal imaging solutions.