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

Lightwave Logic Inc. (NASDAQ:LWLG) 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”.

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) 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

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.