Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells $1,254,492.54 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 104,454 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $12.01, for a total transaction of $1,254,492.54. Following the completion of the transaction, the director owned 2,916,073 shares in the company, valued at approximately $35,022,036.73. This trade represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 transaction of $192,000.00.
• 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 stock was 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 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 Performance

Shares of LPTH stock traded down $0.18 on Thursday, hitting $11.49. The company had a trading volume of 1,497,013 shares, compared to its average volume of 2,882,034. LightPath Technologies, Inc. has a twelve month low of $1.61 and a twelve month high of $15.24. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $663.09 million, a P/E ratio of -22.10 and a beta of 0.98. The company has a 50-day moving average price of $11.59 and a 200-day moving average price of $9.17.

Analyst Ratings Changes

Several research firms have commented on LPTH. Canaccord Genuity Group started coverage on LightPath Technologies in a research report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Lake Street Capital boosted their target price 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. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

Institutional Trading of LightPath Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Portolan Capital Management LLC acquired a new position in shares of LightPath Technologies during the 3rd quarter worth approximately $12,939,000. Tudor Investment Corp ET AL purchased a new stake in LightPath Technologies in the 3rd quarter worth $8,445,000. Granahan Investment Management LLC purchased a new stake in LightPath Technologies in the 4th quarter worth $7,085,000. AWM Investment Company Inc. raised its position in LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock worth $22,033,000 after acquiring an additional 592,500 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in LightPath Technologies during the third quarter valued at $3,669,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.