Peregrine Investment Management Inc. Invests $4.01 Million in LightPath Technologies, Inc. $LPTH

Peregrine Investment Management Inc. acquired a new position in LightPath Technologies, Inc. (NASDAQ:LPTH) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 400,000 shares of the technology company’s stock, valued at approximately $4,012,000. LightPath Technologies makes up about 3.2% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 19th biggest position. Peregrine Investment Management Inc. owned about 0.69% of LightPath Technologies as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LPTH. Portolan Capital Management LLC acquired a new stake in shares of LightPath Technologies in the 3rd quarter worth $12,939,000. Tudor Investment Corp ET AL acquired a new stake in shares of LightPath Technologies in the 3rd quarter worth $8,445,000. Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies in the 4th quarter worth $7,085,000. AWM Investment Company Inc. boosted its position in shares of LightPath Technologies by 40.9% in the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of LightPath Technologies in the 3rd quarter worth $3,669,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Canaccord Genuity Group raised their price objective on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.13.

Insider Transactions at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at $41,087,592. This trade represents a 54.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 4,287,258 shares of company stock valued at $58,744,883. Company insiders own 24.80% of the company’s stock.

LightPath Technologies Stock Performance

Shares of LPTH stock opened at $14.26 on Monday. The firm has a market capitalization of $895.39 million, a price-to-earnings ratio of -28.52 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The business has a fifty day moving average of $13.98 and a 200 day moving average of $11.75. LightPath Technologies, Inc. has a 1 year low of $2.75 and a 1 year high of $18.94.

LightPath Technologies (NASDAQ:LPTH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 return on equity of 15.55% and a negative net margin of 37.38%. As a group, research analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

About LightPath Technologies

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.