LightPath Technologies (NASDAQ:LPTH) Director Run Strategic Opportunit North Sells 3,571,400 Shares

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the sale, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, May 14th, Run Strategic Opportunit North sold 165,000 shares of LightPath Technologies stock. The stock was sold at an average price of $12.16, for a total value of $2,006,400.00.
• On Wednesday, May 13th, Run Strategic Opportunit North sold 45,000 shares of LightPath Technologies stock. The stock was sold at an average price of $12.29, for a total value of $553,050.00.
• On Tuesday, May 12th, Run Strategic Opportunit North sold 83,052 shares of LightPath Technologies stock. The stock was sold at an average price of $12.25, for a total value of $1,017,387.00.
• On Wednesday, March 25th, Run Strategic Opportunit North sold 302,352 shares of LightPath Technologies stock. The stock was sold at an average price of $12.31, for a total value of $3,721,953.12.
• On Wednesday, March 18th, Run Strategic Opportunit North sold 16,000 shares of LightPath Technologies stock. The stock was 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 stock was sold at an average price of $12.01, for a total value of $1,254,492.54.

LightPath Technologies Trading Up 12.8%

LightPath Technologies stock opened at $17.62 on Friday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. LightPath Technologies, Inc. has a 12 month low of $2.75 and a 12 month high of $18.94. The stock’s 50 day simple moving average is $13.45 and its two-hundred day simple moving average is $11.41. The firm has a market cap of $1.11 billion, a PE ratio of -35.24 and a beta of 1.33.

LightPath Technologies (NASDAQ:LPTH) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. Analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LPTH shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. HC Wainwright increased their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Canaccord Genuity Group increased their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. Portolan Capital Management LLC purchased a new position in LightPath Technologies in the 3rd quarter valued at $12,939,000. Tudor Investment Corp ET AL purchased a new position in LightPath Technologies in the 3rd quarter valued at $8,445,000. Granahan Investment Management LLC purchased a new position in LightPath Technologies in the 4th quarter valued at $7,085,000. AWM Investment Company Inc. lifted its holdings 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 valued at $22,033,000 after purchasing an additional 592,500 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in LightPath Technologies in the 3rd quarter valued at $3,669,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

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.