Lightwave Logic (NASDAQ:LWLG) Stock Price Down 5.5% – Here’s Why

by · The Markets Daily

Lightwave Logic Inc. (NASDAQ:LWLG – Get Free Report)’s stock price dropped 5.5% on Monday. The stock traded as low as $5.39 and last traded at $5.3860. Approximately 350,956 shares were traded during trading, a decline of 93% from the average daily volume of 4,809,270 shares. The stock had previously closed at $5.70.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LWLG. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a report on Friday, July 17th. Zacks Research raised shares of Lightwave Logic to a “hold” rating in a research report on Friday, October 2nd. Freedom Broker began coverage on Lightwave Logic in a report on Thursday, September 17th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Wall Street Zen downgraded shares of Lightwave Logic from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lightwave Logic presently has a consensus rating of “Hold” and an average target price of $10.00.

Get Our Latest Analysis on Lightwave Logic

Lightwave Logic Price Performance

The stock has a fifty day simple moving average of $5.93 and a 200-day simple moving average of $8.60. The company has a market capitalization of $868.75 million, a price-to-earnings ratio of -35.22 and a beta of 2.40.

Lightwave Logic (NASDAQ:LWLG – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. Lightwave Logic had a negative net margin of 9,143.60% and a negative return on equity of 30.34%. The firm had revenue of $0.03 million during the quarter. As a group, equities analysts expect that Lightwave Logic Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Lightwave Logic

Institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in Lightwave Logic in the 2nd quarter worth about $432,000. Engineers Gate Manager LP purchased a new stake in Lightwave Logic in the 2nd quarter valued at $136,000. Squarepoint Ops LLC boosted its position in shares of Lightwave Logic by 5.7% during the 2nd quarter. Squarepoint Ops LLC now owns 200,704 shares of the company’s stock valued at $1,899,000 after acquiring an additional 10,818 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Lightwave Logic in the second quarter valued at about $393,000. Finally, Wedmont Private Capital purchased a new stake in shares of Lightwave Logic in the second quarter valued at about $203,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

Lightwave Logic Company Profile

(Get Free Report)

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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