Lightwave Logic (NASDAQ:LWLG) Hits New 12-Month High - Here's What Happened

Key Points

• Lightwave Logic achieved a new 52-week high of $4.96 during trading, significantly up from its previous close of $4.33, with over 1.47 million shares traded.
• Brokerages have mixed views on LWLG, with Wall Street Zen upgrading the stock from "sell" to "hold," while Weiss Ratings maintained a "sell" rating.
• Insider trading was notable, with two directors selling a combined 16,000 shares recently, indicating a decline in their ownership by approximately 11.58% and 15.67%.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $4.96 and last traded at $4.96, with a volume of 1477587 shares changing hands. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LWLG. Wall Street Zen upgraded Lightwave Logic from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Lightwave Logic in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

Lightwave Logic Price Performance

The business has a 50-day moving average of $3.01 and a two-hundred day moving average of $1.81. The company has a market cap of $608.37 million, a P/E ratio of -26.11 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) earnings per share for the quarter. The company had revenue of $0.03 million for the quarter. Lightwave Logic had a negative net margin of 22,321.05% and a negative return on equity of 66.64%.

Insider Activity

In other news, Director Thomas M. Connelly, Jr. sold 6,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $4.25, for a total value of $25,500.00. Following the sale, the director directly owned 45,811 shares of the company's stock, valued at $194,696.75. The trade was a 11.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laila Partridge sold 10,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $4.11, for a total value of $41,100.00. Following the completion of the sale, the director directly owned 53,802 shares in the company, valued at $221,126.22. This represents a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock worth $106,300 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lightwave Logic

Several large investors have recently modified their holdings of LWLG. Ameriprise Financial Inc. acquired a new position in shares of Lightwave Logic in the 4th quarter valued at $35,000. BNP Paribas Financial Markets acquired a new position in shares of Lightwave Logic in the 4th quarter valued at $32,000. Bank of America Corp DE lifted its stake in shares of Lightwave Logic by 21.0% in the 4th quarter. Bank of America Corp DE now owns 160,788 shares of the company's stock valued at $338,000 after purchasing an additional 27,900 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Lightwave Logic in the 4th quarter valued at $364,000. Finally, Squarepoint Ops LLC acquired a new position in Lightwave Logic during the 4th quarter worth about $49,000. Institutional investors and hedge funds 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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