Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells 770,321 Shares of Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 770,321 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.72, for a total transaction of $9,028,162.12. Following the transaction, the director owned 2,728,968 shares of the company’s stock, valued at approximately $31,983,504.96. The trade was a 22.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

LightPath Technologies Stock Up 5.9%

LightPath Technologies stock traded up $0.68 during midday trading on Wednesday, reaching $12.20. The company’s stock had a trading volume of 2,704,927 shares, compared to its average volume of 1,897,811. The company has a market cap of $555.47 million, a P/E ratio of -31.28 and a beta of 0.98. The company has a quick ratio of 1.26, a current ratio of 1.98 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $6.33. LightPath Technologies, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $12.49.

Wall Street Analyst Weigh In

LPTH has been the topic of a number of research analyst reports. Lake Street Capital raised their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright increased their target price on shares of LightPath Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. LADENBURG THALM/SH SH upgraded shares of LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, LightPath Technologies has an average rating of “Moderate Buy” and an average target price of $10.13.

Institutional Trading of LightPath Technologies

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC raised its position in LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company’s stock worth $122,000 after acquiring an additional 29,054 shares in the last quarter. Wealth Effects LLC grew its stake in shares of LightPath Technologies by 5.8% during the 2nd quarter. Wealth Effects LLC now owns 136,000 shares of the technology company’s stock worth $419,000 after purchasing an additional 7,500 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of LightPath Technologies in the 2nd quarter valued at about $137,000. J.W. Cole Advisors Inc. acquired a new stake in shares of LightPath Technologies in the second quarter valued at about $79,000. Finally, Marathon Capital Management purchased a new stake in LightPath Technologies during the second quarter worth about $54,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

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.