Insider Selling: LightPath Technologies (NASDAQ:LPTH) Director Sells 3,571,400 Shares of Stock

Key Points

• LightPath Technologies director Run Strategic Opportunit North sold 3,571,400 shares on June 3 at an average price of $14.00, generating about $50.0 million in proceeds. The sale cut the director’s ownership by 54.89% to 2,934,828 shares.
• The stock was trading up 12.8% to $17.62, near its 52-week high of $18.94, with volume above average. LightPath also has a market cap of about $1.11 billion.
• Analysts currently view LPTH as a Moderate Buy overall, with a consensus target price of $14.13. The company recently reported revenue above expectations but continued to post a small quarterly loss.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) Director Run Strategic Opportunit North sold 3,571,400 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total value of $49,999,600.00. Following the sale, the director directly owned 2,934,828 shares in the company, valued at $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 Securities & Exchange Commission, which is available 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 stock was 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 stock was 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 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 stock was 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 Trading Up 12.8%

Shares of LightPath Technologies stock traded up $2.00 on Thursday, reaching $17.62. 5,289,627 shares of the company were exchanged, compared to its average volume of 4,323,190. The stock has a fifty day moving average price of $13.45 and a 200-day moving average price of $11.41. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -35.24 and a beta of 1.33. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. LightPath Technologies, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $18.94.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced 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 company had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. On average, analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LPTH shares. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research report on Monday, May 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research report on Tuesday, April 21st. Canaccord Genuity Group upped their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, HC Wainwright upped their price target on LightPath Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. boosted its stake in shares of LightPath Technologies by 40.9% during the 4th quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company's stock worth $22,033,000 after acquiring an additional 592,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of LightPath Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company's stock worth $15,603,000 after acquiring an additional 72,208 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies during the 3rd quarter worth about $12,939,000. Goldman Sachs Group Inc. boosted its stake in shares of LightPath Technologies by 14.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company's stock worth $15,656,000 after acquiring an additional 181,538 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of LightPath Technologies during the 3rd quarter worth about $8,445,000. Hedge funds and other institutional investors own 56.29% of the company's stock.

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.

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