Lightwave Logic (NASDAQ:LWLG) Sets New 1-Year High – Here’s Why

Lightwave Logic Inc. (NASDAQ:LWLG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $4.96 and last traded at $4.96, with a volume of 1477587 shares traded. The stock had previously closed at $4.33.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LWLG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Lightwave Logic from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lightwave Logic currently has a consensus rating of “Sell”.

Lightwave Logic Price Performance

The company has a market cap of $608.37 million, a PE ratio of -26.11 and a beta of 2.53. The company has a 50-day moving average price of $3.01 and a two-hundred day moving average price of $1.82.

Lightwave Logic (NASDAQ:LWLG) last announced its earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter. The company had revenue of $0.03 million for the quarter. Lightwave Logic had a negative net margin of 22,321.05% and a negative return on equity of 66.64%.

Insider Transactions at Lightwave Logic

In other news, Director Thomas M. Connelly, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $4.25, for a total value of $25,500.00. Following the completion of the transaction, the director directly owned 45,811 shares in the company, valued at approximately $194,696.75. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laila Partridge sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total transaction of $41,100.00. Following the sale, the director directly owned 53,802 shares of the company’s stock, valued at approximately $221,126.22. The trade was a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,000 shares of company stock valued at $106,300. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. acquired a new stake in Lightwave Logic during the 4th quarter valued at approximately $35,000. WINTON GROUP Ltd purchased a new position in shares of Lightwave Logic during the 2nd quarter valued at approximately $39,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lightwave Logic during the second quarter worth approximately $40,000. Truist Financial Corp bought a new stake in shares of Lightwave Logic in the second quarter worth $42,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Lightwave Logic by 18.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,547 shares of the company’s stock valued at $44,000 after acquiring an additional 5,468 shares in the last quarter. Hedge funds and other institutional investors own 27.04% of the company’s stock.

About Lightwave Logic

Lightwave Logic, Inc focuses on the development of photonic devices and electro-optical polymer materials systems for fiber-optic data communications, telecommunications, and optical computing markets in the United States. The company is involved in the designing and synthesizing of organic chromophores for use in its electro-optic polymer systems and photonic device designs.