Lightwave Logic Inc. (NASDAQ:LWLG – Get Free Report) rose 5.6% during trading on Wednesday. The company traded as high as $4.37 and last traded at $4.3950. Approximately 336,438 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 4,758,514 shares. The stock had previously closed at $4.16.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a report on Thursday, October 15th. Freedom Broker started coverage on shares of Lightwave Logic in a report on Thursday, September 17th. They set a “buy” rating and a $10.00 price target on the stock. Wall Street Zen cut shares of Lightwave Logic from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. Finally, Zacks Research raised shares of Lightwave Logic to a “hold” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.
Read Our Latest Stock Analysis on Lightwave Logic
Lightwave Logic Price Performance
The stock has a fifty day moving average of $5.41 and a 200 day moving average of $8.40. The firm has a market capitalization of $687.28 million, a P/E ratio of -27.72 and a beta of 2.40.
Lightwave Logic (NASDAQ:LWLG – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. Lightwave Logic had a negative net margin of 9,143.60% and a negative return on equity of 30.34%. The business had revenue of $0.03 million during the quarter. Equities analysts forecast that Lightwave Logic Inc. will post -0.18 EPS for the current fiscal year.
Hedge Funds Weigh In On Lightwave Logic
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Lightwave Logic in the second quarter worth about $116,413,000. Bank of New York Mellon Corp purchased a new stake in shares of Lightwave Logic during the 2nd quarter worth approximately $4,370,000. Algert Global LLC purchased a new stake in shares of Lightwave Logic during the 2nd quarter worth approximately $2,753,000. Bleakley Financial Group LLC bought a new stake in shares of Lightwave Logic in the 1st quarter worth approximately $1,739,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Lightwave Logic in the 2nd quarter worth approximately $2,069,000. Institutional investors own 27.04% of the company’s stock.
Lightwave Logic Company Profile
Lightwave Logic, Inc develops advanced electro-optic polymer materials and technologies designed to convert electrical signals into optical signals. Its technology is intended for use in photonic devices that support high-speed data transmission across communications and computing networks.
The company’s offerings include its Perkinamine family of electro-optic chromophores and related organic polymer systems, as well as device designs and development expertise for polymer-based optical modulators.
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