Lightwave Logic (NASDAQ:LWLG) Trading 8.7% Higher – Here’s What Happened

Lightwave Logic Inc. (NASDAQ:LWLG) shares rose 8.7% during trading on Wednesday . The company traded as high as $8.22 and last traded at $8.22. 1,291,069 shares traded hands during trading, a decline of 76% from the average session volume of 5,309,362 shares. The stock had previously closed at $7.56.

Analysts Set New Price Targets

Several research firms recently commented on LWLG. Wall Street Zen downgraded shares of Lightwave Logic from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Lightwave Logic Stock Performance

The company has a market capitalization of $1.12 billion, a P/E ratio of -42.88 and a beta of 2.48. The company’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $8.27.

Lightwave Logic (NASDAQ:LWLG) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $0.03 million for the quarter. Lightwave Logic had a negative net margin of 9,019.34% and a negative return on equity of 38.79%.

Hedge Funds Weigh In On Lightwave Logic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Lightwave Logic by 50.1% during the fourth quarter. Farther Finance Advisors LLC now owns 9,155 shares of the company’s stock worth $30,000 after purchasing an additional 3,055 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Lightwave Logic during the third quarter valued at $38,000. WINTON GROUP Ltd acquired a new position in shares of Lightwave Logic in the second quarter worth about $39,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lightwave Logic during the 2nd quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Lightwave Logic by 42.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 36,283 shares of the company’s stock valued at $45,000 after purchasing an additional 10,839 shares in the last quarter. 27.04% of the stock is owned by hedge funds and other institutional investors.

Lightwave Logic Company Profile

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.