LightPath Technologies (NASDAQ:LPTH) Director Run Strategic Opportunit North Sells 45,000 Shares

Key Points

• Director Run Strategic Opportunit North sold 45,000 shares of LightPath Technologies at an average price of $12.29, bringing the transaction value to about $553,050. After the sale, the director still held more than 3.15 million shares.
• The insider has been actively trimming holdings, with multiple sales in recent weeks totaling large blocks of stock at prices mostly around $12 per share.
• LightPath Technologies reported quarterly earnings that matched estimates and beat revenue expectations, while analysts currently maintain a Moderate Buy consensus with a target price of $14.13.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) Director Run Strategic Opportunit North sold 45,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $12.29, for a total value of $553,050.00. Following the completion of the transaction, the director directly owned 3,155,112 shares of the company's stock, valued at approximately $38,776,326.48. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 transaction of $2,006,400.00.
• 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 transaction 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 transaction of $3,721,953.12.
• On Wednesday, March 18th, Run Strategic Opportunit North sold 16,000 shares of LightPath Technologies stock. The shares were sold at an average price of $12.00, for a total transaction 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 transaction of $1,254,492.54.
• 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 value of $664,950.00.
• On Tuesday, March 3rd, Run Strategic Opportunit North sold 381,004 shares of LightPath Technologies stock. The shares were sold at an average price of $12.18, for a total value of $4,640,628.72.
• On Monday, March 2nd, Run Strategic Opportunit North sold 238,991 shares of LightPath Technologies stock. The stock was sold at an average price of $12.03, for a total value of $2,875,061.73.
• 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 value of $3,655,120.56.
• On Tuesday, February 24th, Run Strategic Opportunit North sold 131,281 shares of LightPath Technologies stock. The stock was sold at an average price of $12.02, for a total value of $1,577,997.62.

LightPath Technologies Price Performance

Shares of NASDAQ LPTH traded up $0.03 during midday trading on Thursday, reaching $12.15. 3,104,694 shares of the company traded hands, compared to its average volume of 3,371,397. LightPath Technologies, Inc. has a 12 month low of $2.21 and a 12 month high of $16.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.86. The stock's 50-day simple moving average is $12.14 and its 200-day simple moving average is $10.59. The firm has a market cap of $762.90 million, a PE ratio of -24.30 and a beta of 1.26.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last posted 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). The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative net margin of 37.38% and a negative return on equity of 15.55%. As a group, equities analysts anticipate that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LPTH. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a report on Tuesday, April 21st. 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. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group increased their target price on LightPath Technologies from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.13.

Institutional Trading of LightPath Technologies

Several hedge funds have recently modified their holdings of the stock. Lake Street Private Wealth LLC acquired a new stake in shares of LightPath Technologies in the fourth quarter valued at approximately $108,000. Occudo Quantitative Strategies LP acquired a new stake in shares of LightPath Technologies in the 3rd quarter valued at $82,000. Hudson Bay Capital Management LP bought a new stake in shares of LightPath Technologies during the third quarter worth $84,000. Wexford Capital LP acquired a new position in shares of LightPath Technologies during the third quarter valued at $88,000. Finally, Jefferies Financial Group Inc. bought a new position in LightPath Technologies in the third quarter valued at about $90,000. 56.29% of the stock is owned by institutional investors.

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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