Lightwave Logic (NASDAQ:LWLG) Shares Gap Down – What’s Next?

Lightwave Logic Inc. (NASDAQ:LWLG)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $4.39, but opened at $3.71. Lightwave Logic shares last traded at $3.5110, with a volume of 2,400,770 shares.

Analyst Ratings Changes

Several research analysts have commented on LWLG shares. Zacks Research upgraded shares of Lightwave Logic to a “hold” rating in a report on Friday, October 2nd. Freedom Broker began coverage on shares of Lightwave Logic in a report on Thursday, September 17th. They issued a “buy” rating and a $10.00 price objective on the stock. Wall Street Zen cut shares of Lightwave Logic from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.00.

Lightwave Logic Price Performance

The firm has a market capitalization of $595.87 million, a PE ratio of -24.16 and a beta of 2.42. The business’s 50-day moving average price is $4.83 and its 200-day moving average price is $7.27.

Lightwave Logic (NASDAQ:LWLG) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $0.03 million during the quarter. Lightwave Logic had a negative net margin of 9,143.60% and a negative return on equity of 30.34%. Equities analysts forecast that Lightwave Logic Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Lightwave Logic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in Lightwave Logic by 841.8% during the third quarter. Sterling Capital Management LLC now owns 5,321 shares of the company’s stock worth $27,000 after buying an additional 4,756 shares in the last quarter. Ancora Advisors LLC purchased a new position in Lightwave Logic in the second quarter valued at about $72,000. Allworth Financial LP increased its holdings in Lightwave Logic by 461.0% in the third quarter. Allworth Financial LP now owns 9,127 shares of the company’s stock valued at $46,000 after buying an additional 7,500 shares in the last quarter. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Lightwave Logic during the 2nd quarter valued at approximately $95,000. Finally, Capital Advisors Inc. OK acquired a new stake in shares of Lightwave Logic during the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

About Lightwave Logic

Lightwave Logic, Inc. develops electro-optic polymer materials and photonic devices. Its technology is designed to convert electrical signals into optical signals and back, supporting the transmission of data through optical networks. The company’s work centers on polymer-based optical modulators, including materials marketed under the Perkinamine name. Lightwave Logic is developing these devices for potential use in telecommunications, data centers and other applications that require high-speed optical communications, including systems that combine polymer technology with silicon photonics.