Run Strategic Opportunit North Sells 300,092 Shares of LightPath Technologies (NASDAQ:LPTH) Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 300,092 shares of LightPath Technologies stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.18, for a total transaction of $3,655,120.56. Following the transaction, the director owned 2,955,522 shares in the company, valued at approximately $35,998,257.96. This trade represents a 9.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 value 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 stock was 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 shares were sold at an average price of $11.72, for a total value of $9,028,162.12.

LightPath Technologies Trading Down 6.4%

Shares of LPTH stock opened at $10.43 on Friday. LightPath Technologies, Inc. has a 1-year low of $1.61 and a 1-year high of $15.24. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The stock has a market cap of $601.92 million, a price-to-earnings ratio of -20.06 and a beta of 0.97. The stock has a 50-day moving average of $11.32 and a 200-day moving average of $8.52.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HC Wainwright lifted their target price on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Canaccord Genuity Group assumed coverage on LightPath Technologies in a report on Thursday, January 29th. They set a “buy” rating and a $15.00 price target for the company. Lake Street Capital lifted their price objective on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. LADENBURG THALM/SH SH raised LightPath Technologies to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in shares of LightPath Technologies by 915.6% during the 4th quarter. Millennium Management LLC now owns 312,267 shares of the technology company’s stock worth $3,372,000 after purchasing an additional 281,519 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in LightPath Technologies during the 4th quarter worth approximately $337,000. Boothbay Fund Management LLC bought a new position in LightPath Technologies in the fourth quarter worth approximately $352,000. Apis Capital Advisors LLC grew its stake in LightPath Technologies by 430.0% in the fourth quarter. Apis Capital Advisors LLC now owns 424,000 shares of the technology company’s stock valued at $4,579,000 after acquiring an additional 344,000 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in LightPath Technologies in the fourth quarter valued at approximately $1,443,000. Institutional investors and hedge funds 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.