Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells 45,000 Shares of Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $12.29, for a total transaction of $553,050.00. Following the completion of the transaction, the director directly owned 3,155,112 shares in the company, valued at $38,776,326.48. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 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 shares were sold at an average price of $12.31, for a total transaction 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 transaction 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 stock was 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 shares were 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 shares were 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 value 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 value of $1,577,997.62.

LightPath Technologies Stock Up 0.2%

Shares of NASDAQ LPTH traded up $0.03 during mid-day trading on Thursday, reaching $12.15. 3,104,694 shares of the company’s stock were exchanged, compared to its average volume of 3,371,397. LightPath Technologies, Inc. has a twelve month low of $2.21 and a twelve month high of $16.53. The company has a current ratio of 3.86, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $762.90 million, a price-to-earnings ratio of -24.30 and a beta of 1.26. The business has a fifty day simple moving average of $12.14 and a 200 day simple moving average of $10.59.

LightPath Technologies (NASDAQ:LPTH) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. As a group, equities analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On LightPath Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lake Street Private Wealth LLC bought a new stake in LightPath Technologies during the 4th quarter worth about $108,000. Occudo Quantitative Strategies LP bought a new position in shares of LightPath Technologies in the 3rd quarter valued at about $82,000. Hudson Bay Capital Management LP bought a new position in shares of LightPath Technologies in the 3rd quarter valued at about $84,000. Wexford Capital LP acquired a new stake in shares of LightPath Technologies in the third quarter valued at about $88,000. Finally, Jefferies Financial Group Inc. bought a new stake in LightPath Technologies during the third quarter worth about $90,000. 56.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LPTH has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. HC Wainwright lifted their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.13.

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.