Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells 302,352 Shares of Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 302,352 shares of LightPath Technologies stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $12.31, for a total value of $3,721,953.12. Following the sale, the director directly owned 3,283,164 shares in the company, valued at $40,415,748.84. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, March 18th, Run Strategic Opportunit North sold 16,000 shares of LightPath Technologies stock. The shares were sold at an average price of $12.00, for a total value of $192,000.00.
• On Tuesday, March 17th, Run Strategic Opportunit North sold 104,454 shares of LightPath Technologies stock. The shares were sold at an average price of $12.01, for a total transaction of $1,254,492.54.
• On Wednesday, March 4th, Run Strategic Opportunit North sold 55,000 shares of LightPath Technologies stock. The shares were sold at an average price of $12.09, for a total transaction of $664,950.00.
• On Tuesday, March 3rd, Run Strategic Opportunit North sold 381,004 shares of LightPath Technologies stock. The stock was sold at an average price of $12.18, for a total transaction of $4,640,628.72.
• On Monday, March 2nd, Run Strategic Opportunit North sold 238,991 shares of LightPath Technologies stock. The stock was 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 transaction of $3,655,120.56.
• 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 shares were 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 stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12.

LightPath Technologies Stock Performance

Shares of LightPath Technologies stock opened at $9.49 on Friday. The stock has a market cap of $547.67 million, a price-to-earnings ratio of -18.25 and a beta of 0.98. LightPath Technologies, Inc. has a twelve month low of $1.61 and a twelve month high of $15.24. The company’s fifty day moving average is $11.40 and its 200 day moving average is $9.42. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies during the 3rd quarter valued at about $12,939,000. Tudor Investment Corp ET AL bought a new stake in LightPath Technologies in the third quarter worth approximately $8,445,000. Granahan Investment Management LLC bought a new stake in LightPath Technologies in the fourth quarter worth approximately $7,085,000. AWM Investment Company Inc. lifted its stake in LightPath Technologies by 40.9% in the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after buying an additional 592,500 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in LightPath Technologies in the third quarter valued at approximately $3,669,000. 56.29% of the stock is owned by institutional investors and hedge funds.

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.