Lightwave Logic (NASDAQ:LWLG) Shares Up 8.2% – Still a Buy?

Lightwave Logic Inc. (NASDAQ:LWLG) shares traded up 8.2% during mid-day trading on Monday . The stock traded as high as $5.64 and last traded at $5.5170. Approximately 948,641 shares were traded during trading, a decline of 81% from the average daily volume of 4,901,428 shares. The stock had previously closed at $5.10.

Wall Street Analysts Forecast Growth

LWLG has been the topic of a number of research analyst reports. Freedom Broker started coverage on shares of Lightwave Logic in a research report on Thursday. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research report on Friday, July 17th. Finally, 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.00.

Lightwave Logic Trading Up 7.8%

The stock has a 50 day moving average of $6.18 and a 200-day moving average of $8.64. The company has a market capitalization of $847.61 million, a P/E ratio of -34.34 and a beta of 2.41.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings data 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 net margin of 9,143.60% and a negative return on equity of 30.34%.

Hedge Funds Weigh In On Lightwave Logic

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Lightwave Logic in the 2nd quarter worth approximately $116,413,000. Bank of New York Mellon Corp purchased a new stake in Lightwave Logic during the 2nd quarter valued at approximately $4,370,000. Algert Global LLC purchased a new position in shares of Lightwave Logic in the second quarter worth $2,753,000. Bleakley Financial Group LLC bought a new position in shares of Lightwave Logic during the first quarter worth $1,739,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Lightwave Logic during the second quarter worth $2,069,000. Institutional investors 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.