Lightwave Logic (NASDAQ:LWLG) Director Thomas Connelly Jr Sells 6,000 Shares

Key Points

• Lightwave Logic's Director Thomas Connelly Jr. sold 6,000 shares at $4.25 each, resulting in a total transaction value of $25,500, which represents an 11.58% decrease in his ownership.
• The company's stock price recently increased to $4.33, with a significant trading volume of nearly 2 million shares on the reported trading day.
• Lightwave Logic's stock was recently upgraded from a "sell" to "hold" rating by Wall Street Zen, reflecting a shift in analysts' sentiments.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) Director Thomas Connelly, Jr. sold 6,000 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $4.25, for a total value of $25,500.00. Following the transaction, the director owned 45,811 shares of the company's stock, valued at approximately $194,696.75. The trade was a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lightwave Logic Price Performance

Shares of NASDAQ:LWLG traded up $0.42 on Thursday, hitting $4.33. The company's stock had a trading volume of 1,982,530 shares, compared to its average volume of 1,345,339. The company has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $1.76. Lightwave Logic Inc. has a 1 year low of $0.79 and a 1 year high of $4.80. The company has a market capitalization of $560.48 million, a PE ratio of -24.05 and a beta of 2.53.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.05) EPS for the quarter. The business had revenue of $0.03 million for the quarter. Lightwave Logic had a negative return on equity of 66.64% and a negative net margin of 22,321.05%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Lightwave Logic from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th.

Hedge Funds Weigh In On Lightwave Logic

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Lightwave Logic in the fourth quarter worth $32,000. Ameriprise Financial Inc. purchased a new position in shares of Lightwave Logic in the fourth quarter worth about $35,000. WINTON GROUP Ltd bought a new stake in shares of Lightwave Logic in the 2nd quarter valued at about $39,000. Hudson Bay Capital Management LP purchased a new stake in Lightwave Logic during the 2nd quarter valued at about $40,000. Finally, Truist Financial Corp bought a new position in Lightwave Logic during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 27.04% of the company's stock.

About Lightwave Logic

Lightwave Logic, Inc focuses on the development of photonic devices and electro-optical polymer materials systems for fiber-optic data communications, telecommunications, and optical computing markets in the United States. The company is involved in the designing and synthesizing of organic chromophores for use in its electro-optic polymer systems and photonic device designs.

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