Lightwave Logic (NASDAQ:LWLG) Now Covered by Freedom Broker

Freedom Broker assumed coverage on shares of Lightwave Logic (NASDAQ:LWLG) in a research report issued on Thursday, Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. Freedom Broker’s price objective indicates a potential upside of 95.54% from the stock’s current price.

Several other analysts have also recently commented on the stock. Wall Street Zen cut shares of Lightwave Logic from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lightwave Logic in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

Lightwave Logic Price Performance

NASDAQ:LWLG traded up $0.28 on Thursday, reaching $5.11. The stock had a trading volume of 1,228,348 shares, compared to its average volume of 4,919,997. Lightwave Logic has a 12-month low of $2.84 and a 12-month high of $18.71. The company has a market cap of $788.43 million, a price-to-earnings ratio of -32.03 and a beta of 2.41. The firm’s fifty day moving average is $6.26 and its two-hundred day moving average is $8.63.

Lightwave Logic (NASDAQ:LWLG) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $0.03 million for the quarter. Lightwave Logic had a negative return on equity of 30.34% and a negative net margin of 9,143.60%.

Hedge Funds Weigh In On Lightwave Logic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Lightwave Logic in the second quarter valued at about $116,413,000. Bank of New York Mellon Corp acquired a new stake in shares of Lightwave Logic in the second quarter valued at about $4,370,000. Algert Global LLC purchased a new stake in shares of Lightwave Logic during the 2nd quarter valued at about $2,753,000. Bleakley Financial Group LLC acquired a new position in Lightwave Logic during the 1st quarter worth approximately $1,739,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Lightwave Logic in the 2nd quarter worth approximately $2,069,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

About Lightwave Logic

Lightwave Logic, Inc develops advanced photonic materials and devices designed to improve the speed, energy efficiency and performance of optical communications systems. The company’s core technology is based on electro-optic polymers, which can convert electrical signals into optical signals at high speeds.

Its product and technology portfolio includes proprietary organic nonlinear optical chromophores, polymer materials and polymer-based electro-optic modulators. These technologies are intended for applications such as data-center interconnects, telecommunications, high-performance computing and other systems that transmit large volumes of data using optical networks.

Founded in 1991 and headquartered in Englewood, Colorado, Lightwave Logic conducts research and development in the United States and works to support the adoption of its materials and devices through industry relationships and potential licensing or commercialization arrangements.