Lightwave Logic (NASDAQ:LWLG) Shares Up 8.2% – Here’s What Happened

Lightwave Logic Inc. (NASDAQ:LWLG)’s stock price traded up 8.2% on Monday . The stock traded as high as $5.64 and last traded at $5.5170. 948,641 shares changed hands during trading, a decline of 81% from the average daily volume of 4,901,428 shares. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

LWLG has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a research note on Friday, July 17th. Wall Street Zen downgraded Lightwave Logic from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. Finally, Freedom Broker initiated coverage on shares of Lightwave Logic in a report on Thursday, September 17th. They issued a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lightwave Logic presently has a consensus rating of “Hold” and an average target price of $10.00.

Lightwave Logic Trading Up 0.7%

The firm’s 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $8.64. The company has a market cap of $851.02 million, a PE ratio of -34.50 and a beta of 2.41.

Lightwave Logic (NASDAQ:LWLG) last issued its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. Lightwave Logic had a negative return on equity of 30.34% and a negative net margin of 9,143.60%.The firm had revenue of $0.03 million during the quarter.

Institutional Investors Weigh In On Lightwave Logic

A number of hedge funds and other institutional investors have recently made changes to their positions in LWLG. Ancora Advisors LLC acquired a new stake in Lightwave Logic in the second quarter valued at approximately $72,000. TRU Independence Asset Management 2 LLC purchased a new position in shares of Lightwave Logic during the 2nd quarter worth $95,000. Capital Advisors Inc. OK purchased a new stake in shares of Lightwave Logic during the 2nd quarter valued at approximately $95,000. Brandywine Oak Private Wealth LLC purchased a new stake in Lightwave Logic in the first quarter valued at $76,000. Finally, State of Wyoming acquired a new position in Lightwave Logic in the second quarter valued at about $110,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

About Lightwave Logic

Lightwave Logic, Inc develops advanced photonic materials and devices designed to improve the speed, energy efficiency and performance of optical communications systems. The company’s core technology is based on electro-optic polymers, which can convert electrical signals into optical signals at high speeds.

Its product and technology portfolio includes proprietary organic nonlinear optical chromophores, polymer materials and polymer-based electro-optic modulators. These technologies are intended for applications such as data-center interconnects, telecommunications, high-performance computing and other systems that transmit large volumes of data using optical networks.

Founded in 1991 and headquartered in Englewood, Colorado, Lightwave Logic conducts research and development in the United States and works to support the adoption of its materials and devices through industry relationships and potential licensing or commercialization arrangements.