LightPath Technologies (NASDAQ:LPTH) Director Sells $2,006,400.00 in Stock

Key Points

• LightPath Technologies director Run Strategic Opportunit North sold 165,000 shares on May 14 at an average price of $12.16, totaling $2.01 million. After the sale, the director still owned about 2.99 million shares.
• The filing shows a broader pattern of insider selling, with multiple additional sales by the same director in recent months, including several large transactions in March and May.
• Despite the insider selling, LightPath reported Q3 earnings in line with expectations and revenue above estimates, while analysts remain mixed with an average rating of Moderate Buy and a consensus target price of $14.13.

LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) Director Run Strategic Opportunit North sold 165,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $12.16, for a total value of $2,006,400.00. Following the completion of the sale, the director owned 2,990,112 shares in the company, valued at approximately $36,359,761.92. This represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 shares were 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 stock was 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 stock was 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 shares were 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 transaction 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 shares were sold at an average price of $12.03, for a total transaction 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 transaction 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 transaction 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. The company's stock had a trading volume of 3,104,694 shares, compared to its average volume of 3,371,397. LightPath Technologies, Inc. has a one year low of $2.21 and a one year high of $16.53. The company has a market cap of $762.90 million, a price-to-earnings ratio of -24.30 and a beta of 1.26. The company has a 50 day moving average price of $12.14 and a 200 day moving average price of $10.59. The company has a current ratio of 3.86, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01.

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, equities research analysts expect that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On LightPath Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPTH. AWM Investment Company Inc. grew its holdings 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 valued at $22,033,000 after acquiring an additional 592,500 shares in the last quarter. Vanguard Group Inc. boosted its position in LightPath Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,967,566 shares of the technology company's stock valued at $15,603,000 after purchasing an additional 72,208 shares during the last quarter. Portolan Capital Management LLC purchased a new position in LightPath Technologies in the third quarter valued at about $12,939,000. Goldman Sachs Group Inc. increased its position in LightPath Technologies by 14.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company's stock worth $15,656,000 after purchasing an additional 181,538 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LPTH shares. HC Wainwright boosted their price target on shares of LightPath Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Wall Street Zen upgraded LightPath Technologies from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Canaccord Genuity Group lifted their price target on LightPath Technologies from $15.50 to $16.50 and gave the company a "buy" rating in a report on Monday. One research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.13.

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.

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