LightPath Technologies Sees Unusually High Options Volume (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTH) saw some unusual options trading activity on Tuesday. Investors bought 19,909 call options on the stock. This represents an increase of approximately 372% compared to the average volume of 4,216 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LPTH shares. LADENBURG THALM/SH SH raised shares of LightPath Technologies to a “strong-buy” rating in a research report on Thursday, December 18th. Lake Street Capital lifted their price objective on shares of LightPath Technologies from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research report on Thursday, January 22nd. Canaccord Genuity Group started coverage on LightPath Technologies in a research note on Thursday, January 29th. They set a “buy” rating and a $15.00 price objective on the stock. 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 research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LightPath Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $12.10.

LightPath Technologies Stock Up 7.4%

LPTH traded up $0.81 during midday trading on Tuesday, hitting $11.81. The company had a trading volume of 1,007,672 shares, compared to its average volume of 2,904,769. The company has a market capitalization of $681.54 million, a price-to-earnings ratio of -22.71 and a beta of 0.98. The stock’s 50 day moving average price is $11.60 and its 200 day moving average price is $9.10. The company has a quick ratio of 3.42, a current ratio of 3.97 and a debt-to-equity ratio of 0.01. LightPath Technologies has a 52 week low of $1.61 and a 52 week high of $15.24.

Insider Activity

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 770,321 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $11.72, for a total value of $9,028,162.12. Following the completion of the transaction, the director directly owned 2,728,968 shares in the company, valued at $31,983,504.96. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 2,478,762 shares of company stock valued at $29,982,515 over the last ninety days. Corporate insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

Several institutional investors and hedge funds have recently made changes to their positions in LPTH. Principal Financial Group Inc. purchased a new stake in LightPath Technologies during the 3rd quarter valued at $953,000. Calamos Advisors LLC bought a new position in shares of LightPath Technologies during the third quarter valued at $1,322,000. Portolan Capital Management LLC purchased a new stake in shares of LightPath Technologies during the third quarter valued at $12,939,000. HUB Investment Partners LLC boosted its position in shares of LightPath Technologies by 141.0% during the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock valued at $1,586,000 after buying an additional 117,000 shares during the last quarter. Finally, Apis Capital Advisors LLC bought a new stake in LightPath Technologies in the 3rd quarter worth about $634,000. 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.