Lightwave Logic (NASDAQ:LWLG) Stock Price Down 9.1% – Here’s Why

Lightwave Logic Inc. (NASDAQ:LWLG)’s stock price fell 9.1% during mid-day trading on Tuesday . The company traded as low as $4.30 and last traded at $4.2350. 249,940 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,422,822 shares. The stock had previously closed at $4.66.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LWLG shares. Wall Street Zen raised Lightwave Logic from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Lightwave Logic Trading Down 8.6%

The firm has a market cap of $535.88 million, a price-to-earnings ratio of -23.00 and a beta of 2.58. The stock’s fifty day moving average price is $4.63 and its 200-day moving average price is $2.77.

Lightwave Logic (NASDAQ:LWLG) last posted its earnings results on Friday, November 14th. The company reported ($0.04) EPS for the quarter. The business had revenue of $0.03 million during the quarter. Lightwave Logic had a negative net margin of 22,321.05% and a negative return on equity of 66.64%.

Insider Activity

In related news, Director Laila Partridge sold 10,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total value of $41,100.00. Following the completion of the sale, the director owned 53,802 shares in the company, valued at approximately $221,126.22. This trade represents a 15.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Connelly, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $4.25, for a total value of $25,500.00. Following the transaction, the director owned 45,811 shares in the company, valued at $194,696.75. This trade represents a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,000 shares of company stock valued at $106,300. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Lightwave Logic

Institutional investors have recently modified their holdings of the company. Sherbrooke Park Advisers LLC purchased a new position in Lightwave Logic during the 3rd quarter valued at about $38,000. Bank of America Corp DE boosted its stake in shares of Lightwave Logic by 89.8% in the 3rd quarter. Bank of America Corp DE now owns 55,814 shares of the company’s stock valued at $207,000 after buying an additional 26,413 shares during the period. Credit Agricole S A acquired a new position in shares of Lightwave Logic during the third quarter worth about $151,000. Virtu Financial LLC increased its stake in shares of Lightwave Logic by 69.2% during the third quarter. Virtu Financial LLC now owns 78,715 shares of the company’s stock worth $292,000 after buying an additional 32,199 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lightwave Logic in the third quarter valued at approximately $345,000. 27.04% of the stock is owned by institutional investors and hedge funds.

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.