Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells $4,640,628.72 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 381,004 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.18, for a total transaction of $4,640,628.72. Following the completion of the sale, the director owned 3,075,527 shares in the company, valued at $37,459,918.86. This represents a 11.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, March 4th, Run Strategic Opportunit North sold 55,000 shares of LightPath Technologies stock. The stock was sold at an average price of $12.09, for a total transaction of $664,950.00.
• On Monday, March 2nd, Run Strategic Opportunit North sold 238,991 shares of LightPath Technologies stock. The shares were sold at an average price of $12.03, for a total transaction of $2,875,061.73.
• On Wednesday, February 25th, Run Strategic Opportunit North sold 300,092 shares of LightPath Technologies stock. The shares were sold at an average price of $12.18, for a total value of $3,655,120.56.
• 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 Friday, February 20th, Run Strategic Opportunit North sold 595,573 shares of LightPath Technologies stock. The shares were sold at an average price of $12.53, for a total value 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 value of $9,028,162.12.

LightPath Technologies Stock Down 2.3%

LPTH stock opened at $11.07 on Friday. The company has a market cap of $638.85 million, a price-to-earnings ratio of -21.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The business’s 50-day moving average is $11.60 and its two-hundred day moving average is $8.76. LightPath Technologies, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $15.24.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Lake Street Private Wealth LLC bought a new position in shares of LightPath Technologies in the fourth quarter worth about $108,000. Occudo Quantitative Strategies LP bought a new stake in LightPath Technologies during the 3rd quarter valued at approximately $82,000. Hudson Bay Capital Management LP bought a new stake in LightPath Technologies during the 3rd quarter valued at approximately $84,000. Wexford Capital LP purchased a new position in LightPath Technologies in the 3rd quarter worth approximately $88,000. Finally, Jefferies Financial Group Inc. purchased a new position in LightPath Technologies in the 3rd quarter worth approximately $90,000. 56.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.