LightPath Technologies (NASDAQ:LPTH) Director Run Strategic Opportunit North Sells 595,573 Shares of Stock

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 595,573 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $12.53, for a total value of $7,462,529.69. Following the completion of the sale, the director directly owned 3,393,395 shares of the company’s stock, valued at approximately $42,519,239.35. This represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 stock was 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 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 Stock Performance

LPTH stock opened at $11.99 on Wednesday. The stock’s 50 day simple moving average is $11.09 and its 200 day simple moving average is $8.40. LightPath Technologies, Inc. has a 12-month low of $1.61 and a 12-month high of $15.24. The firm has a market cap of $691.94 million, a P/E ratio of -23.06 and a beta of 0.97. The company has a current ratio of 3.97, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. HC Wainwright lifted their target price on LightPath Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Canaccord Genuity Group began coverage on LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Lake Street Capital upped their price objective on LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LPTH. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies during the 3rd quarter worth $12,939,000. Tudor Investment Corp ET AL acquired a new stake in shares of LightPath Technologies during the third quarter worth $8,445,000. Granahan Investment Management LLC purchased a new stake in shares of LightPath Technologies during the fourth quarter valued at $7,085,000. AWM Investment Company Inc. lifted its holdings in shares of 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 last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of LightPath Technologies in the 3rd quarter valued at $3,669,000. 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.