LightPath Technologies (NASDAQ:LPTH) Director Sells $2,875,061.73 in Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 238,991 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $12.03, for a total transaction of $2,875,061.73. Following the transaction, the director owned 3,456,531 shares of the company’s stock, valued at $41,582,067.93. This represents a 6.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Run Strategic Opportunit North also recently made the following trade(s):

• 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 Wednesday, February 25th, Run Strategic Opportunit North sold 300,092 shares of LightPath Technologies stock. The shares were 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 stock was sold at an average price of $12.01, for a total value of $78,065.00.
• On Friday, February 20th, Run Strategic Opportunit North sold 595,573 shares of LightPath Technologies stock. The shares were 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 stock was sold at an average price of $11.72, for a total value of $9,028,162.12.

LightPath Technologies Price Performance

NASDAQ LPTH traded down $0.18 during trading hours on Wednesday, hitting $11.80. The company had a trading volume of 1,871,351 shares, compared to its average volume of 2,983,933. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.97. The firm has a market capitalization of $680.98 million, a price-to-earnings ratio of -22.69 and a beta of 0.98. LightPath Technologies, Inc. has a 52 week low of $1.61 and a 52 week high of $15.24. The firm has a 50 day simple moving average of $11.51 and a 200 day simple moving average of $8.69.

Institutional Trading of LightPath Technologies

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its position in LightPath Technologies by 915.6% during the fourth quarter. Millennium Management LLC now owns 312,267 shares of the technology company’s stock valued at $3,372,000 after acquiring an additional 281,519 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in LightPath Technologies during the fourth quarter valued at about $337,000. Boothbay Fund Management LLC bought a new position in shares of LightPath Technologies during the fourth quarter valued at about $352,000. Apis Capital Advisors LLC grew its stake in shares of LightPath Technologies by 430.0% during the fourth quarter. Apis Capital Advisors LLC now owns 424,000 shares of the technology company’s stock valued at $4,579,000 after buying an additional 344,000 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of LightPath Technologies in the fourth quarter worth about $1,443,000. Institutional investors own 56.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. HC Wainwright raised their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Canaccord Genuity Group began coverage on LightPath Technologies in a research report on Thursday, January 29th. They set a “buy” rating and a $15.00 price target for the company. Finally, Lake Street Capital upped their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.10.

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.