Stock Traders Purchase Large Volume of Call Options on LightPath Technologies (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of unusually large options trading on Friday. Investors bought 5,090 call options on the company. This is an increase of 36% compared to the typical daily volume of 3,747 call options.

LightPath Technologies Stock Performance

NASDAQ LPTH traded up $2.27 during trading hours on Friday, hitting $15.39. The company’s stock had a trading volume of 2,804,135 shares, compared to its average volume of 3,098,896. LightPath Technologies has a 12 month low of $3.36 and a 12 month high of $18.94. The company’s 50 day simple moving average is $12.96 and its two-hundred day simple moving average is $12.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. The company has a market cap of $966.32 million, a P/E ratio of -30.78 and a beta of 1.39.

Insider Activity at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the transaction, the director directly owned 2,934,828 shares of the company’s stock, valued at $41,087,592. The trade was a 54.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.80% of the stock is currently owned by insiders.

Institutional Trading of LightPath Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in shares of LightPath Technologies during the second quarter worth about $2,352,000. Tema ETFs LLC grew its position in LightPath Technologies by 129,258.4% in the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock valued at $32,487,000 after acquiring an additional 1,985,409 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of LightPath Technologies during the second quarter valued at approximately $8,496,000. PVG Asset Management Corp bought a new stake in shares of LightPath Technologies in the first quarter valued at about $108,000. Finally, Bank of America Corp DE boosted its position in LightPath Technologies by 118.2% during the 1st quarter. Bank of America Corp DE now owns 556,037 shares of the technology company’s stock valued at $5,577,000 after acquiring an additional 301,225 shares in the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.50 price objective on shares of LightPath Technologies in a report on Monday, July 27th. Finally, Piper Sandler began coverage on shares of LightPath Technologies in a report on Wednesday. They set an “overweight” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.30.

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.