Snapshot
North Run Strategic Opportunities Fund I, LP, which holds about ten percent of LightPath Technologies INC (NASDAQ: LPTH), along with Director Thomas B. Ellis and Member Todd B. Hammer, disclosed the sale of 300,092 shares of Class A common stock on February 25, 2026. The transactions were executed at a weighted average price of $12.18, producing proceeds of roughly $3.6 million.
Details of the insider disposition
The sales were completed across multiple trades, with execution prices ranging from $12.0076 to $12.3617 per share. After the disposition, North Run Strategic Opportunities Fund I, LP reported a direct holding of 2,955,522 shares of LightPath Technologies INC.
Market movement following the sale shows the shares have declined to $10.43, though they remain substantially higher on an annual basis, up 357% over the past year.
Valuation and trading characteristics
Analysis from InvestingPro indicates LPTH is trading above its Fair Value and is listed among the platform's Most Overvalued stocks. The platform also highlights that the stock typically exhibits high price volatility, a characteristic noted among its ProTips and research coverage on U.S. equities.
Quarterly results and analyst reaction
LightPath reported fiscal second-quarter 2026 results that delivered a notable revenue increase. Revenue for the quarter came in at $16.4 million, above a consensus forecast of $14.9 million and H.C. Wainwright's internal estimate of $13.3 million. Management attributed the top-line strength primarily to increased demand from the defense and security sectors.
On the profitability front, reported diluted earnings per share were -$0.20, missing the expected -$0.05. In response to the reported quarter, H.C. Wainwright raised its price target on LightPath to $15 from $10 while maintaining a Buy rating.
Context and takeaway
The disclosed sale by a substantial shareholder and two named insiders, combined with InvestingPro's valuation signal and the company's latest results that mix a revenue beat with an earnings shortfall, present a complex snapshot of market and operational dynamics for LightPath. The information reported here is limited to the filings, valuation commentary, and corporate results noted above.
Key points
- North Run Strategic Opportunities Fund I, LP sold 300,092 LightPath Class A shares on Feb. 25, 2026, at a weighted average price of $12.18, generating about $3.6 million.
- LightPath's fiscal Q2 2026 revenue of $16.4 million exceeded forecasts, driven mainly by demand from the defense and security sectors; EPS was -$0.20, below expectations.
- InvestingPro flags LPTH as trading above Fair Value and as a high-volatility security; H.C. Wainwright raised its price target to $15 and kept a Buy rating.
Risks and uncertainties
- The stock is identified by InvestingPro as trading above its Fair Value, indicating valuation risk for investors — a factor relevant across equity markets and particularly for LPTH holders.
- LightPath reported an earnings-per-share shortfall versus expectations despite a revenue beat, underscoring profitability and margin uncertainty that can affect investor sentiment in the industrials and defense supply chains.
- High price volatility is noted for the stock, which can increase market risk and affect trading in related optical components and defense-equipment supplier segments.
Information in this report is drawn from disclosed filings, published valuation commentary, company-reported financial results, and the analyst action cited above.