Key Points
- LightPath Technologies director Run Strategic Opportunit North sold 3,571,400 shares on June 3 at an average price of $14.00, totaling about $50.0 million. After the sale, the director still held 2,934,828 shares, a 54.89% reduction in the position.
- The stock has been rising sharply, opening at $17.62 and trading near its 52-week high of $18.94. LightPath is up 12.8% in the latest session and has a market value of about $1.11 billion.
- LightPath recently reported Q1 earnings in line with estimates, posting EPS of -$0.02 while revenue came in above expectations at $19.15 million. Analysts currently view the stock as a Moderate Buy with an average price target of $14.13.
LightPath Technologies, Inc. (NASDAQ:LPTH - Get Free Report) Director Run Strategic Opportunit North sold 3,571,400 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total value of $49,999,600.00. Following the completion of the transaction, the director owned 2,934,828 shares in the company, valued at $41,087,592. The trade was a 54.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
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 Up 12.8%
Shares of LPTH opened at $17.62 on Friday. LightPath Technologies, Inc. has a 52-week low of $2.75 and a 52-week high of $18.94. The company has a market capitalization of $1.11 billion, a PE ratio of -35.24 and a beta of 1.33. The stock has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $11.41. The company has a quick ratio of 3.24, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.
LightPath Technologies (NASDAQ:LPTH - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.02). LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%.The business had revenue of $19.15 million during the quarter, compared to the consensus estimate of $17.04 million. As a group, equities analysts forecast that LightPath Technologies, Inc. will post -0.11 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on LPTH shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. HC Wainwright raised their target price on LightPath Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Wall Street Zen raised LightPath Technologies from a "sell" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Canaccord Genuity Group raised their price objective on LightPath Technologies from $15.50 to $16.50 and gave the stock a "buy" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.13.
Read Our Latest Research Report on LPTH
Institutional Trading of LightPath Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of LPTH. Jane Street Group LLC increased its position in shares of LightPath Technologies by 92.1% during the 1st quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock worth $122,000 after purchasing an additional 29,054 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in shares of LightPath Technologies during the 2nd quarter worth about $246,000. Principal Financial Group Inc. acquired a new stake in shares of LightPath Technologies during the 3rd quarter worth about $953,000. Thompson Davis & CO. Inc. increased its position in shares of LightPath Technologies by 31.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 56,909 shares of the technology company's stock worth $451,000 after purchasing an additional 13,559 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of LightPath Technologies during the 3rd quarter worth about $183,000. 56.29% of the stock is owned by institutional investors and hedge funds.
LightPath Technologies Company Profile
(
Get Free Report)
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.
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