Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells $49,999,600.00 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 3,571,400 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 shares were 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 shares were 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 shares were 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 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 Stock Down 15.3%

NASDAQ LPTH opened at $14.93 on Friday. The business has a fifty day moving average price of $13.51 and a two-hundred day moving average price of $11.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. LightPath Technologies, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $18.94. The stock has a market capitalization of $937.45 million, a PE ratio of -29.86 and a beta of 1.33.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share 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 firm had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $17.04 million. Equities analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on LPTH. HC Wainwright upped their target price on LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Canaccord Genuity Group upped their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen cut LightPath Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

Institutional Trading of LightPath Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in LightPath Technologies in the third quarter valued at $953,000. Portolan Capital Management LLC acquired a new stake in LightPath Technologies in the third quarter valued at $12,939,000. HUB Investment Partners LLC increased its holdings in LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock valued at $1,586,000 after purchasing an additional 117,000 shares during the period. Tudor Investment Corp ET AL acquired a new stake in LightPath Technologies in the third quarter valued at $8,445,000. Finally, AIGH Capital Management LLC increased its holdings in LightPath Technologies by 14.5% in the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock valued at $11,132,000 after purchasing an additional 130,738 shares during the period. 56.29% of the stock is currently owned by institutional investors and hedge funds.

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.