Lightwave Logic (NASDAQ:LWLG) Stock Price Down 11.9% – Here’s Why

Lightwave Logic Inc. (NASDAQ:LWLG)’s stock price dropped 11.9% during mid-day trading on Tuesday. The stock traded as low as $4.42 and last traded at $4.3240. 1,310,818 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,669,988 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LWLG shares. Wall Street Zen cut Lightwave Logic from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. Zacks Research upgraded Lightwave Logic to a “hold” rating in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lightwave Logic in a research report on Thursday, October 15th. Finally, Freedom Broker initiated coverage on Lightwave Logic in a research report on Thursday, September 17th. They issued a “buy” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Lightwave Logic Trading Down 5.8%

The company has a market cap of $515.69 million, a price-to-earnings ratio of -21.22 and a beta of 2.42. The business’s 50 day moving average price is $4.80 and its 200-day moving average price is $7.27.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) EPS for the quarter. The company 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 research analysts forecast that Lightwave Logic Inc. will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightwave Logic

Institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Lightwave Logic by 841.8% during the 3rd quarter. Sterling Capital Management LLC now owns 5,321 shares of the company’s stock worth $27,000 after purchasing an additional 4,756 shares during the last quarter. Ancora Advisors LLC grew its holdings in Lightwave Logic by 292.1% in the 2nd quarter. Ancora Advisors LLC now owns 7,571 shares of the company’s stock valued at $72,000 after buying an additional 5,640 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Lightwave Logic by 53.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company’s stock worth $83,000 after buying an additional 5,762 shares during the period. Allworth Financial LP increased its position in Lightwave Logic by 461.0% during the 3rd quarter. Allworth Financial LP now owns 9,127 shares of the company’s stock worth $46,000 after buying an additional 7,500 shares during the period. Finally, TRU Independence Asset Management 2 LLC bought a new position in Lightwave Logic during the 2nd quarter worth $95,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

About Lightwave Logic

Lightwave Logic, Inc. develops electro-optic polymer materials and photonic devices. Its technology is designed to convert electrical signals into optical signals and back, supporting the transmission of data through optical networks. The company’s work centers on polymer-based optical modulators, including materials marketed under the Perkinamine name. Lightwave Logic is developing these devices for potential use in telecommunications, data centers and other applications that require high-speed optical communications, including systems that combine polymer technology with silicon photonics.