Run Strategic Opportunit North Sells 3,571,400 Shares of LightPath Technologies (NASDAQ:LPTH) Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 Stock Performance

LPTH stock opened at $14.93 on Friday. The firm has a market cap of $937.45 million, a PE ratio of -29.86 and a beta of 1.33. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $13.51 and a 200-day moving average of $11.43. LightPath Technologies, Inc. has a 12-month low of $2.75 and a 12-month high of $18.94.

LightPath Technologies (NASDAQ:LPTH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $19.15 million during 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%. As a group, sell-side analysts expect that LightPath Technologies, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on LPTH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightPath Technologies in a report on Tuesday, April 21st. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Canaccord Genuity Group upped their target price on LightPath Technologies from $15.50 to $16.50 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, HC Wainwright upped their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One 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 issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.13.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. grew its holdings in LightPath Technologies by 40.9% during the fourth quarter. AWM Investment Company Inc. now owns 2,040,110 shares of the technology company’s stock valued at $22,033,000 after purchasing an additional 592,500 shares during the period. Vanguard Group Inc. lifted its position in shares of LightPath Technologies by 3.8% during the third 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 position in shares of LightPath Technologies in the third quarter worth $12,939,000. Goldman Sachs Group Inc. grew its position in shares of LightPath Technologies by 14.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,449,642 shares of the technology company’s stock valued at $15,656,000 after purchasing an additional 181,538 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of LightPath Technologies in the third quarter valued at $8,445,000. 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.