Stock Traders Purchase Large Volume of Call Options on LightPath Technologies (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTHGet Free Report) saw unusually large options trading on Friday. Traders purchased 5,090 call options on the stock. This represents an increase of 36% compared to the typical volume of 3,747 call options.

Analyst Ratings Changes

LPTH has been the topic of a number of research analyst reports. Wall Street Zen lowered LightPath Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Canaccord Genuity Group restated a “buy” rating and issued a $16.50 price objective on shares of LightPath Technologies in a report on Monday, July 27th. Piper Sandler assumed coverage on shares of LightPath Technologies in a report on Wednesday. They set an “overweight” rating and a $15.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LightPath Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $14.30.

Check Out Our Latest Report on LightPath Technologies

Insider Transactions at LightPath Technologies

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 2,934,828 shares of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On LightPath Technologies

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in LightPath Technologies by 6.0% in the 1st quarter. SG Americas Securities LLC now owns 57,684 shares of the technology company’s stock worth $579,000 after purchasing an additional 3,276 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in shares of LightPath Technologies by 45.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 16,623 shares of the technology company’s stock valued at $180,000 after acquiring an additional 5,223 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in LightPath Technologies by 41.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 28,400 shares of the technology company’s stock worth $307,000 after buying an additional 8,300 shares in the last quarter. Royal Bank of Canada increased its stake in LightPath Technologies by 707.2% in the first quarter. Royal Bank of Canada now owns 9,565 shares of the technology company’s stock valued at $96,000 after acquiring an additional 8,380 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of LightPath Technologies during the 3rd quarter valued at about $82,000. 56.29% of the stock is owned by institutional investors.

LightPath Technologies Price Performance

LPTH traded up $2.27 on Friday, reaching $15.39. The stock had a trading volume of 2,804,135 shares, compared to its average volume of 3,098,896. The firm has a 50-day moving average of $12.96 and a 200-day moving average of $12.61. The company has a market capitalization of $966.32 million, a price-to-earnings ratio of -30.78 and a beta of 1.39. LightPath Technologies has a fifty-two week low of $3.36 and a fifty-two week high of $18.94. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01.

About LightPath Technologies

(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.

Further Reading

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