Freedom Broker Begins Coverage on Lightwave Logic (NASDAQ:LWLG)

Key Points

• Freedom Broker initiated coverage of Lightwave Logic with a “buy” rating and a $10 price target, implying approximately 95.5% upside from the prior close.
• Analyst sentiment remains mixed: one analyst rates the stock Buy and another Sell, resulting in a MarketBeat consensus rating of Hold with a $10 target.
• Lightwave Logic shares traded at $5.11, while the company reported a quarterly loss of $0.04 per share and just $0.03 million in revenue; institutional investors own 27.04% of the stock.

Equities researchers at Freedom Broker began coverage on shares of Lightwave Logic (NASDAQ:LWLG - Get Free Report) in a research note issued to investors on Thursday, Benzinga reports. The firm set a "buy" rating and a $10.00 price target on the stock. Freedom Broker's price target suggests a potential upside of 95.54% from the company's previous close.

LWLG has been the topic of a number of other reports. Wall Street Zen downgraded shares of Lightwave Logic from a "sell" rating to a "strong sell" rating in a research note on Sunday, September 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lightwave Logic in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Lightwave Logic currently has a consensus rating of "Hold" and a consensus target price of $10.00.

Lightwave Logic Price Performance

NASDAQ:LWLG traded up $0.28 during trading hours on Thursday, reaching $5.11. The company had a trading volume of 1,228,348 shares, compared to its average volume of 4,919,997. The business's 50 day moving average price is $6.26 and its 200-day moving average price is $8.63. Lightwave Logic has a 1-year low of $2.84 and a 1-year high of $18.71. The firm has a market cap of $788.43 million, a PE ratio of -32.03 and a beta of 2.41.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. Lightwave Logic had a negative return on equity of 30.34% and a negative net margin of 9,143.60%.The business had revenue of $0.03 million for the quarter.

Institutional Trading of Lightwave Logic

Several large investors have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new position in shares of Lightwave Logic during the 2nd quarter worth $136,000. Squarepoint Ops LLC raised its position in Lightwave Logic by 5.7% during the second quarter. Squarepoint Ops LLC now owns 200,704 shares of the company's stock worth $1,899,000 after acquiring an additional 10,818 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Lightwave Logic in the second quarter valued at about $393,000. Wedmont Private Capital acquired a new stake in shares of Lightwave Logic in the second quarter valued at approximately $203,000. Finally, Ancora Advisors LLC increased its stake in shares of Lightwave Logic by 292.1% during the 2nd quarter. Ancora Advisors LLC now owns 7,571 shares of the company's stock worth $72,000 after purchasing an additional 5,640 shares in the last quarter. Institutional investors and hedge funds own 27.04% of the company's stock.

Lightwave Logic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.