Lightwave Logic (NASDAQ:LWLG) Stock Price Down 8.3% – Here’s What Happened

by · The Markets Daily

Lightwave Logic Inc. (NASDAQ:LWLG – Get Free Report) fell 8.3% during trading on Monday . The company traded as low as $3.81 and last traded at $3.8050. 639,093 shares were traded 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 reissued a “sell (e+)” rating on shares of Lightwave Logic in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

View Our Latest Stock Report on LWLG

Lightwave Logic Stock Performance

The company’s fifty day moving average price is $4.68 and its 200-day moving average price is $3.18. The stock has a market cap of $396.88 million, a P/E ratio of -16.50 and a beta of 2.79.

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

Insider Transactions at Lightwave Logic

In other Lightwave Logic news, Director Thomas M. Connelly, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $4.25, for a total value of $25,500.00. Following the transaction, the director directly owned 45,811 shares in the company, valued at $194,696.75. This represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald A. Bucchi sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $3.97, for a total transaction of $39,700.00. Following the transaction, the director directly owned 185,583 shares in the company, valued at approximately $736,764.51. This trade represents a 5.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,000 shares of company stock worth $106,300. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Lightwave Logic during the 2nd quarter valued at $340,000. Nuveen LLC bought a new position in shares of Lightwave Logic during the 1st quarter worth $315,000. PTM Wealth Management LLC purchased a new position in shares of Lightwave Logic during the second quarter valued at $134,000. Private Management Group Inc. bought a new stake in shares of Lightwave Logic in the second quarter valued at about $138,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Lightwave Logic in the second quarter valued at about $71,000. Institutional investors own 27.04% of the company’s stock.

Lightwave Logic Company Profile

(Get Free Report)

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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