Lightwave Logic (NASDAQ:LWLG) Shares Up 8.7% – Here’s What Happened

Lightwave Logic Inc. (NASDAQ:LWLG) shares traded up 8.7% on Wednesday . The stock traded as high as $8.22 and last traded at $8.22. Approximately 1,291,069 shares changed hands during trading, a decline of 76% from the average session volume of 5,309,362 shares. The stock had previously closed at $7.56.

Wall Street Analyst Weigh In

LWLG has been the subject of several research reports. Wall Street Zen downgraded shares of Lightwave Logic from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Lightwave Logic Price Performance

The stock’s 50 day moving average is $7.98 and its two-hundred day moving average is $8.22. The stock has a market capitalization of $1.26 billion, a PE ratio of -47.94 and a beta of 2.49.

Lightwave Logic (NASDAQ:LWLG) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter. Lightwave Logic had a negative return on equity of 38.79% and a negative net margin of 9,019.34%.The firm had revenue of $0.03 million during the quarter.

Institutional Investors Weigh In On Lightwave Logic

Institutional investors have recently modified their holdings of the company. Greenspring Advisors LLC purchased a new position in Lightwave Logic in the second quarter valued at $679,000. TRU Independence Asset Management 2 LLC purchased a new stake in Lightwave Logic during the 2nd quarter worth about $95,000. Citizens Financial Group Inc. RI purchased a new stake in Lightwave Logic during the 2nd quarter worth about $127,000. BlackRock Inc. acquired a new position in shares of Lightwave Logic during the 2nd quarter worth about $116,413,000. Finally, Deutsche Bank AG acquired a new position in shares of Lightwave Logic during the 2nd quarter worth about $1,572,000. 27.04% of the stock is owned by hedge funds and other institutional investors.

Lightwave Logic Company Profile

Lightwave Logic, Inc (NASDAQ: LWLG) is a U.S.-based photonics company focused on the development and commercialization of proprietary electro?optic polymer materials and devices for high-speed optical communications. The company’s core technology platform centers on organic electro-optic polymers that offer low drive voltage, high modulation bandwidth and integration flexibility, enabling next-generation optical interconnects for data centers, telecommunications and emerging photonic computing architectures.

Lightwave Logic’s product pipeline includes modulators, waveguides and integrated photonic components designed to outperform traditional lithium-niobate and silicon-based solutions in terms of size, power consumption and ease of integration.