LightPath Technologies (NASDAQ:LPTH) Stock Price Down 6.2% on Insider Selling

LightPath Technologies, Inc. (NASDAQ:LPTH) traded down 6.2% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $10.72 and last traded at $10.78. 233,056 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,832,293 shares. The stock had previously closed at $11.49.

Specifically, Director Run Strategic Opportunit North sold 16,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the sale, the director directly owned 2,900,073 shares in the company, valued at approximately $34,800,876. The trade was a 0.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Run Strategic Opportunit North sold 104,454 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $12.01, for a total transaction of $1,254,492.54. Following the transaction, the director directly owned 2,916,073 shares of the company’s stock, valued at approximately $35,022,036.73. This trade represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LPTH. Wall Street Zen raised shares of LightPath Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. HC Wainwright increased their price objective on shares of LightPath Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Canaccord Genuity Group initiated coverage on shares of LightPath Technologies in a report on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price for the company. Lake Street Capital boosted their target price on LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, LightPath Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

LightPath Technologies Stock Down 4.8%

The business’s fifty day moving average is $11.57 and its two-hundred day moving average is $9.18. The stock has a market cap of $631.35 million, a price-to-earnings ratio of -21.04 and a beta of 0.98. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. increased its position in shares of LightPath Technologies by 45.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock worth $180,000 after acquiring an additional 5,223 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in LightPath Technologies by 11.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 63,600 shares of the technology company’s stock valued at $687,000 after purchasing an additional 6,691 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in LightPath Technologies by 41.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock valued at $307,000 after purchasing an additional 8,300 shares during the period. Lake Street Private Wealth LLC acquired a new position in LightPath Technologies during the 4th quarter worth $108,000. Finally, Occudo Quantitative Strategies LP acquired a new position in LightPath Technologies during the 3rd quarter worth $82,000. 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.