Royce & Associates LP Buys 126,100 Shares of LightPath Technologies, Inc. (NASDAQ:LPTH)

Royce & Associates LP grew its stake in LightPath Technologies, Inc. (NASDAQ:LPTH) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,133,546 shares of the technology company’s stock after purchasing an additional 126,100 shares during the period. Royce & Associates LP owned about 4.39% of LightPath Technologies worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Municipal Employees Retirement System of Michigan purchased a new position in LightPath Technologies during the 4th quarter worth $301,000. 26.55% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on LPTH. B. Riley reaffirmed a “buy” rating on shares of LightPath Technologies in a report on Tuesday, May 7th. ValuEngine raised shares of LightPath Technologies from a “hold” rating to a “buy” rating in a report on Monday, April 29th. TheStreet downgraded shares of LightPath Technologies from a “c” rating to a “d+” rating in a report on Thursday, May 16th. Finally, Zacks Investment Research downgraded shares of LightPath Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.00.

LightPath Technologies stock traded up $0.04 during midday trading on Friday, reaching $0.91. The stock had a trading volume of 251,790 shares, compared to its average volume of 313,347. LightPath Technologies, Inc. has a 12 month low of $0.83 and a 12 month high of $2.75. The business has a 50-day moving average of $1.00. The firm has a market cap of $23.49 million, a price-to-earnings ratio of 22.75 and a beta of 0.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.54 and a quick ratio of 2.13.

LightPath Technologies (NASDAQ:LPTH) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). LightPath Technologies had a negative net margin of 5.22% and a negative return on equity of 4.91%. The company had revenue of $7.91 million for the quarter, compared to the consensus estimate of $8.98 million. On average, equities research analysts anticipate that LightPath Technologies, Inc. will post -0.06 earnings per share for the current fiscal year.

In other LightPath Technologies news, Director Robert Ripp acquired 51,249 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average price of $1.00 per share, with a total value of $51,249.00. Following the completion of the acquisition, the director now owns 730,797 shares of the company’s stock, valued at $730,797. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 73,249 shares of company stock valued at $73,149 in the last three months. 12.80% of the stock is owned by insiders.

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 materials used to produce products that manipulate light. Its products are used in various industries, including defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries.

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Institutional Ownership by Quarter for LightPath Technologies (NASDAQ:LPTH)

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