Thomas Connelly, Jr. Sells 6,000 Shares of Lightwave Logic (NASDAQ:LWLG) Stock

Lightwave Logic Inc. (NASDAQ:LWLG) Director Thomas 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 owned 45,811 shares of the company’s stock, valued at $194,696.75. This trade represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lightwave Logic Price Performance

Shares of NASDAQ:LWLG opened at $4.70 on Friday. The company has a market capitalization of $608.37 million, a PE ratio of -26.11 and a beta of 2.53. The business has a fifty day moving average price of $3.01 and a two-hundred day moving average price of $1.81. Lightwave Logic Inc. has a 1 year low of $0.79 and a 1 year high of $5.00.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.05) 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 22,321.05% and a negative return on equity of 66.64%.

Analyst Ratings Changes

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

Institutional Trading of Lightwave Logic

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Lightwave Logic during the 1st quarter worth about $315,000. PTM Wealth Management LLC purchased a new stake in Lightwave Logic during the 2nd quarter worth about $134,000. Ameriprise Financial Inc. purchased a new stake in Lightwave Logic during the 4th quarter worth about $35,000. Bank of America Corp DE lifted its holdings in Lightwave Logic by 21.0% during the 4th quarter. Bank of America Corp DE now owns 160,788 shares of the company’s stock worth $338,000 after purchasing an additional 27,900 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Lightwave Logic during the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 27.04% of the company’s stock.

Lightwave Logic Company Profile

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.