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

LightPath Technologies, Inc. (NASDAQ:LPTH) Director Run Strategic Opportunit North sold 595,573 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $12.53, for a total transaction 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 trade represents a 14.93% 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 the SEC website.

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 transaction of $1,577,997.62.
• On Monday, February 23rd, Run Strategic Opportunit North sold 6,500 shares of LightPath Technologies stock. The shares were sold at an average price of $12.01, for a total transaction 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 transaction of $9,028,162.12.

LightPath Technologies Stock Up 7.1%

Shares of LPTH traded up $0.79 during mid-day trading on Tuesday, hitting $11.99. The company’s stock had a trading volume of 2,916,459 shares, compared to its average volume of 2,866,909. 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 company’s 50-day moving average is $11.09 and its 200-day moving average is $8.40. LightPath Technologies, Inc. has a 52-week low of $1.61 and a 52-week high of $15.24. The firm has a market capitalization of $691.94 million, a price-to-earnings ratio of -23.06 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LPTH. Wall Street Zen upgraded LightPath Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Canaccord Genuity Group began coverage on LightPath Technologies in a research note on Thursday, January 29th. They issued a “buy” rating and a $15.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Lake Street Capital raised their price target on shares of LightPath Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. One equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.10.

Hedge Funds Weigh In On LightPath Technologies

Several hedge funds have recently modified their holdings of the stock. Marathon Capital Management purchased a new position in shares of LightPath Technologies in the 2nd quarter valued at approximately $54,000. J.W. Cole Advisors Inc. acquired a new position in LightPath Technologies during the 2nd quarter valued at approximately $79,000. Occudo Quantitative Strategies LP purchased a new position in shares of LightPath Technologies in the third quarter worth $82,000. Hudson Bay Capital Management LP acquired a new stake in shares of LightPath Technologies during the third quarter worth $84,000. Finally, Wexford Capital LP purchased a new stake in shares of LightPath Technologies during the third quarter valued at $88,000. 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.