LightPath Technologies (NASDAQ:LPTH) Director Sells $7,462,529.69 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 595,573 shares of LightPath Technologies stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $12.53, for a total transaction of $7,462,529.69. Following the sale, the director owned 3,393,395 shares in the company, valued at approximately $42,519,239.35. The trade was a 14.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 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 Price Performance

LPTH stock traded up $0.79 during mid-day trading on Tuesday, hitting $11.99. The company had a trading volume of 2,916,459 shares, compared to its average volume of 2,866,909. The company has a 50-day moving average price of $11.09 and a 200 day moving average price of $8.40. LightPath Technologies, Inc. has a 12-month low of $1.61 and a 12-month high of $15.24. The company has a market capitalization of $691.94 million, a price-to-earnings ratio of -23.06 and a beta of 0.97. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On LightPath Technologies

Several institutional investors have recently made changes to their positions in LPTH. Jane Street Group LLC raised its stake in shares of LightPath Technologies by 92.1% during the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock valued at $122,000 after acquiring an additional 29,054 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in LightPath Technologies during the 2nd quarter worth $137,000. J.W. Cole Advisors Inc. bought a new stake in LightPath Technologies during the 2nd quarter valued at $79,000. Marathon Capital Management purchased a new stake in shares of LightPath Technologies in the 2nd quarter worth $54,000. Finally, Mink Brook Asset Management LLC purchased a new stake in shares of LightPath Technologies in the 2nd quarter worth $246,000. Institutional investors own 56.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Lake Street Capital upped their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, 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 on the stock. One investment 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’s stock. According to data from MarketBeat.com, the company has an average 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.