Run Strategic Opportunit North Sells 595,573 Shares of LightPath Technologies (NASDAQ:LPTH) Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 595,573 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $12.53, for a total value of $7,462,529.69. Following the sale, the director directly owned 3,393,395 shares of the company’s stock, valued at $42,519,239.35. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Run Strategic Opportunit North also recently made the following trade(s):

• On Tuesday, February 24th, Run Strategic Opportunit North sold 131,281 shares of LightPath Technologies stock. The stock was sold at an average price of $12.02, for a total value of $1,577,997.62.
• On Monday, February 23rd, Run Strategic Opportunit North sold 6,500 shares of LightPath Technologies stock. The stock was sold at an average price of $12.01, for a total value of $78,065.00.
• On Monday, January 5th, Run Strategic Opportunit North sold 770,321 shares of LightPath Technologies stock. The shares were sold at an average price of $11.72, for a total transaction of $9,028,162.12.

LightPath Technologies Stock Down 1.8%

Shares of LightPath Technologies stock opened at $11.77 on Thursday. The company has a market cap of $679.25 million, a P/E ratio of -22.63 and a beta of 0.97. The firm has a fifty day moving average of $11.19 and a two-hundred day moving average of $8.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. LightPath Technologies, Inc. has a one year low of $1.61 and a one year high of $15.24.

Analysts Set New Price Targets

LPTH has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Canaccord Genuity Group assumed coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Lake Street Capital boosted their price target on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Finally, HC Wainwright lifted their price objective on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, LightPath Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in shares of LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after buying an additional 29,054 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in LightPath Technologies during the second quarter worth about $137,000. J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies during the second quarter valued at approximately $79,000. Marathon Capital Management acquired a new position in LightPath Technologies during the second quarter valued at approximately $54,000. Finally, Mink Brook Asset Management LLC bought a new position in LightPath Technologies in the second quarter valued at approximately $246,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

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.