Lightwave Logic (NASDAQ:LWLG) Trading Down 4.8% – Here’s What Happened

Lightwave Logic Inc. (NASDAQ:LWLG) shares dropped 4.8% on Wednesday . The company traded as low as $3.87 and last traded at $3.81. Approximately 188,562 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,410,538 shares. The stock had previously closed at $4.00.

Analyst Ratings Changes

A number of analysts have recently commented on LWLG shares. Weiss Ratings restated a “sell (e+)” rating on shares of Lightwave Logic in a report on Wednesday, October 8th. Wall Street Zen raised shares of Lightwave Logic from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Lightwave Logic Price Performance

The company’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $2.98. The company has a market cap of $517.82 million, a price-to-earnings ratio of -21.50 and a beta of 2.79.

Lightwave Logic (NASDAQ:LWLG) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.04) EPS 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 Activity at Lightwave Logic

In other Lightwave Logic news, Director Ronald A. Bucchi sold 10,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $3.97, for a total value of $39,700.00. Following the completion of the transaction, the director directly owned 185,583 shares in the company, valued at $736,764.51. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laila Partridge sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total value of $41,100.00. Following the transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 26,000 shares of company stock valued at $106,300 in the last quarter. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Lightwave Logic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sherbrooke Park Advisers LLC bought a new stake in Lightwave Logic during the 3rd quarter valued at $38,000. WINTON GROUP Ltd bought a new stake in Lightwave Logic in the second quarter worth about $39,000. Hudson Bay Capital Management LP acquired a new stake in Lightwave Logic during the second quarter valued at approximately $40,000. Jefferies Financial Group Inc. acquired a new position in Lightwave Logic in the third quarter worth approximately $129,000. Finally, Truist Financial Corp bought a new position in shares of Lightwave Logic in the second quarter valued at $42,000. 27.04% of the stock is owned by institutional investors.

About Lightwave Logic

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.