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

LightPath Technologies, Inc. (NASDAQ:LPTH) was the recipient of some unusual options trading activity on Friday. Investors acquired 5,090 call options on the stock. This represents an increase of approximately 36% compared to the average volume of 3,747 call options.

Insider Buying and Selling at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the transaction, the director owned 2,934,828 shares of the company’s stock, valued at $41,087,592. This represents a 54.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. bought a new position in LightPath Technologies during the 2nd quarter valued at $41,488,000. Bank of New York Mellon Corp purchased a new position in LightPath Technologies during the 2nd quarter worth $2,352,000. Tema ETFs LLC grew its stake in shares of 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 worth $32,487,000 after acquiring an additional 1,985,409 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of LightPath Technologies in the 2nd quarter worth $8,496,000. Finally, PVG Asset Management Corp purchased a new stake in shares of LightPath Technologies in the first quarter valued at about $108,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

LightPath Technologies Stock Up 15.6%

Shares of NASDAQ LPTH opened at $15.17 on Friday. The stock has a market capitalization of $952.52 million, a P/E ratio of -30.34 and a beta of 1.39. The company has a 50-day moving average price of $12.97 and a 200-day moving average price of $12.63. LightPath Technologies has a 1 year low of $3.36 and a 1 year high of $18.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Friday, July 17th. Piper Sandler started coverage on LightPath Technologies in a report on Wednesday. They issued an “overweight” rating and a $15.00 price target on the stock. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $16.50 price objective on shares of LightPath Technologies in a report on Monday, July 27th. One research 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. According to MarketBeat, LightPath Technologies has an average rating of “Moderate Buy” and a consensus target price of $14.30.

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.