Lightwave Logic (NASDAQ:LWLG) Trading Down 8.3% – Time to Sell?

by · The Cerbat Gem

Lightwave Logic Inc. (NASDAQ:LWLG – Get Free Report) shares traded down 8.3% during mid-day trading on Monday . The stock traded as low as $3.81 and last traded at $3.8050. 639,093 shares changed hands during trading, a decline of 54% from the average session volume of 1,391,931 shares. The stock had previously closed at $4.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Get Our Latest Stock Report on LWLG

Lightwave Logic Stock Down 9.3%

The stock has a market capitalization of $503.12 million, a PE ratio of -20.92 and a beta of 2.79. The firm has a 50 day moving average price of $4.74 and a 200-day moving average price of $3.15.

Lightwave Logic (NASDAQ:LWLG – Get Free Report) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.04) earnings per share for the quarter. Lightwave Logic had a negative return on equity of 62.24% and a negative net margin of 20,797.03%.The business had revenue of $0.03 million during the quarter.

Insider Transactions at Lightwave Logic

In related news, Director Laila Partridge sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total transaction of $41,100.00. Following the completion of the transaction, the director owned 53,802 shares of the company’s stock, valued at $221,126.22. This trade represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas M. 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 transaction of $25,500.00. Following the completion of the sale, the director directly owned 45,811 shares in the company, valued at approximately $194,696.75. The trade was a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,000 shares of company stock worth $106,300 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Lightwave Logic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in Lightwave Logic during the first quarter valued at approximately $315,000. PTM Wealth Management LLC acquired a new stake in shares of Lightwave Logic during the 2nd quarter worth approximately $134,000. UMB Bank n.a. increased its holdings in shares of Lightwave Logic by 5.8% during the 2nd quarter. UMB Bank n.a. now owns 367,092 shares of the company’s stock valued at $455,000 after purchasing an additional 20,000 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Lightwave Logic in the 2nd quarter valued at $42,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Lightwave Logic by 18.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,547 shares of the company’s stock worth $44,000 after buying an additional 5,468 shares in the last quarter. 27.04% of the stock is owned by institutional investors and hedge funds.

Lightwave Logic Company Profile

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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.

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