Lightwave Logic (NASDAQ:LWLG) Stock Falls 6.7% – What’s Next?

Lightwave Logic Inc. (NASDAQ:LWLG) shares traded down 6.7% during mid-day trading on Monday. The company traded as low as $4.68 and last traded at $4.6350. 389,315 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 4,765,319 shares. The stock had previously closed at $4.97.

Analysts Set New Price Targets

LWLG has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Lightwave Logic in a report on Friday, July 17th. Freedom Broker started coverage on Lightwave Logic in a research report on Thursday, September 17th. They set a “buy” rating and a $10.00 price objective for the company. Wall Street Zen downgraded Lightwave Logic from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. Finally, Zacks Research upgraded Lightwave Logic to a “hold” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lightwave Logic currently has an average rating of “Hold” and an average target price of $10.00.

Lightwave Logic Stock Performance

The company’s 50 day moving average is $5.77 and its 200 day moving average is $8.51.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $0.03 million during the quarter. Lightwave Logic had a negative net margin of 9,143.60% and a negative return on equity of 30.34%. Equities analysts predict that Lightwave Logic Inc. will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Lightwave Logic

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

About Lightwave Logic

Lightwave Logic, Inc develops advanced electro-optic polymer materials and technologies designed to convert electrical signals into optical signals. Its technology is intended for use in photonic devices that support high-speed data transmission across communications and computing networks.

The company’s offerings include its Perkinamine family of electro-optic chromophores and related organic polymer systems, as well as device designs and development expertise for polymer-based optical modulators.