Investors Buy High Volume of LightPath Technologies Call Options (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTH) was the target of unusually large options trading on Friday. Stock investors purchased 5,090 call options on the stock. This represents an increase of 36% compared to the typical volume of 3,747 call options.

LightPath Technologies Stock Performance

Shares of NASDAQ LPTH traded up $2.05 during trading hours on Friday, hitting $15.17. 6,151,975 shares of the stock were exchanged, compared to its average volume of 2,540,011. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.24. LightPath Technologies has a one year low of $3.36 and a one year high of $18.94. The company’s 50 day moving average is $12.97 and its 200 day moving average is $12.63. The firm has a market capitalization of $952.52 million, a P/E ratio of -30.34 and a beta of 1.39.

Insider Transactions at LightPath Technologies

In other news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $41,087,592. This represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On LightPath Technologies

Several large investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. acquired a new position in shares of LightPath Technologies in the second quarter valued at $41,488,000. Tema ETFs LLC lifted its holdings in shares of LightPath Technologies by 129,258.4% during the 2nd quarter. Tema ETFs LLC now owns 1,986,945 shares of the technology company’s stock worth $32,487,000 after acquiring an additional 1,985,409 shares during the period. Granahan Investment Management LLC acquired a new stake in shares of LightPath Technologies during the 4th quarter valued at about $7,085,000. Wasatch Advisors LP acquired a new position in shares of LightPath Technologies in the 2nd quarter worth approximately $8,496,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of LightPath Technologies in the 3rd quarter worth approximately $3,669,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LightPath Technologies Company Profile

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.