ING Groep NV Acquires Shares of 308,000 LightPath Technologies, Inc. $LPTH

ING Groep NV acquired a new stake in shares of LightPath Technologies, Inc. (NASDAQ:LPTH) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 308,000 shares of the technology company’s stock, valued at approximately $3,326,000. ING Groep NV owned 0.68% of LightPath Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lake Street Private Wealth LLC purchased a new position in shares of LightPath Technologies during the 4th quarter valued at approximately $108,000. Occudo Quantitative Strategies LP purchased a new stake in LightPath Technologies during the third quarter worth $82,000. Hudson Bay Capital Management LP purchased a new stake in LightPath Technologies during the third quarter worth $84,000. Wexford Capital LP purchased a new stake in LightPath Technologies during the third quarter worth $88,000. Finally, Jefferies Financial Group Inc. purchased a new stake in LightPath Technologies during the third quarter worth $90,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LPTH. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. HC Wainwright increased their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Wall Street Zen downgraded shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Canaccord Genuity Group increased their price target on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.13.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH opened at $15.04 on Tuesday. The firm has a market cap of $944.36 million, a PE ratio of -30.08 and a beta of 1.32. The firm has a fifty day moving average of $13.59 and a 200 day moving average of $11.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.24 and a current ratio of 3.86. LightPath Technologies, Inc. has a one year low of $2.75 and a one year high of $18.94.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $19.15 million during the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. As a group, research analysts predict that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 4,287,258 shares of company stock valued at $58,744,883. 24.80% of the stock is currently owned by insiders.

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.