Lightwave Logic Inc. (NASDAQ:LWLG – Get Free Report)’s share price was up 8.3% during trading on Thursday . The stock traded as high as $12.55 and last traded at $12.6630. Approximately 1,756,571 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 5,693,343 shares. The stock had previously closed at $11.69.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lightwave Logic in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Lightwave Logic presently has an average rating of “Sell”.
Check Out Our Latest Stock Report on LWLG
Lightwave Logic Price Performance
Lightwave Logic (NASDAQ:LWLG – Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $0.03 million during the quarter. Lightwave Logic had a negative net margin of 9,019.34% and a negative return on equity of 38.79%.
Insider Buying and Selling
In other news, Director Craig Ciesla sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $6.81, for a total value of $74,910.00. Following the completion of the transaction, the director directly owned 118,824 shares of the company’s stock, valued at $809,191.44. This represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Snizhana P. Quan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $10.36, for a total value of $207,200.00. Following the completion of the transaction, the insider directly owned 51,125 shares of the company’s stock, valued at approximately $529,655. This represents a 28.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,536 shares of company stock valued at $933,349 over the last quarter. Corporate insiders own 2.21% of the company’s stock.
Hedge Funds Weigh In On Lightwave Logic
Several institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in Lightwave Logic during the fourth quarter valued at $5,508,000. State Street Corp grew its holdings in Lightwave Logic by 177.8% during the fourth quarter. State Street Corp now owns 1,593,600 shares of the company’s stock valued at $5,163,000 after purchasing an additional 1,019,881 shares during the period. Marshall Wace LLP grew its holdings in Lightwave Logic by 4,591.9% during the fourth quarter. Marshall Wace LLP now owns 1,013,735 shares of the company’s stock valued at $3,285,000 after purchasing an additional 992,129 shares during the period. Goldman Sachs Group Inc. grew its holdings in Lightwave Logic by 350.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 784,644 shares of the company’s stock valued at $2,542,000 after purchasing an additional 610,624 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Lightwave Logic by 2,848.7% during the fourth quarter. Renaissance Technologies LLC now owns 607,632 shares of the company’s stock valued at $1,969,000 after purchasing an additional 587,025 shares during the period. 27.04% of the stock is owned by institutional investors.
About Lightwave Logic
Lightwave Logic, Inc (NASDAQ: LWLG) is a U.S.-based photonics company focused on the development and commercialization of proprietary electro‐optic polymer materials and devices for high-speed optical communications. The company’s core technology platform centers on organic electro-optic polymers that offer low drive voltage, high modulation bandwidth and integration flexibility, enabling next-generation optical interconnects for data centers, telecommunications and emerging photonic computing architectures.
Lightwave Logic’s product pipeline includes modulators, waveguides and integrated photonic components designed to outperform traditional lithium-niobate and silicon-based solutions in terms of size, power consumption and ease of integration.
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