LightPath Technologies (NASDAQ:LPTH) Director Sells $3,655,120.56 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 300,092 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $12.18, for a total transaction of $3,655,120.56. Following the completion of the transaction, the director directly owned 2,955,522 shares of the company’s stock, valued at approximately $35,998,257.96. This trade represents a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $12.02, for a total transaction 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 transaction of $78,065.00.
• On Friday, February 20th, Run Strategic Opportunit North sold 595,573 shares of LightPath Technologies stock. The stock was sold at an average price of $12.53, for a total transaction of $7,462,529.69.
• 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 Trading Down 6.4%

LPTH opened at $10.43 on Monday. The stock has a 50-day moving average of $11.32 and a 200 day moving average of $8.55. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. LightPath Technologies, Inc. has a 12 month low of $1.61 and a 12 month high of $15.24. The firm has a market cap of $601.90 million, a P/E ratio of -20.06 and a beta of 0.97.

Analyst Ratings Changes

A number of analysts recently issued reports on LPTH shares. HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Canaccord Genuity Group began coverage on shares of LightPath Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, LightPath Technologies has a consensus rating of “Moderate Buy” and an average price target of $12.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AWM Investment Company Inc. increased its stake in 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 buying an additional 592,500 shares during the period. Vanguard Group Inc. boosted its position in LightPath Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company’s stock valued at $15,603,000 after buying an additional 72,208 shares during the period. Portolan Capital Management LLC purchased a new position in shares of LightPath Technologies during the third quarter worth approximately $12,939,000. Goldman Sachs Group Inc. increased its position in shares of LightPath Technologies by 14.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock worth $15,656,000 after acquiring an additional 181,538 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of LightPath Technologies during the third quarter worth approximately $8,445,000. 56.29% of the stock is currently owned by institutional investors.

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.