Lightwave Logic (NASDAQ:LWLG) Posts Earnings Results

Key Points

• Lightwave Logic reported a quarterly earnings loss of ($0.05) per share and a revenue of $0.03 million, reflecting a negative net margin of over 22,000%.
• Despite its performance, Wall Street Zen upgraded Lightwave Logic from a "sell" to a "hold" rating, indicating a potential shift in investor sentiment.
• Institutional investors have been increasing their stakes in Lightwave Logic, contributing to a total of 27.04% ownership by institutions and hedge funds.

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

Lightwave Logic Trading Up 6.8%

Shares of LWLG traded up $0.14 during mid-day trading on Thursday, reaching $2.21. 1,095,498 shares of the stock traded hands, compared to its average volume of 1,150,892. The stock has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $1.36. Lightwave Logic has a 12-month low of $0.79 and a 12-month high of $4.23.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Lightwave Logic

A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its position in shares of Lightwave Logic by 225.2% during the second quarter. Jane Street Group LLC now owns 545,100 shares of the company's stock worth $676,000 after buying an additional 377,484 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Lightwave Logic during the second quarter worth approximately $458,000. Brevan Howard Capital Management LP grew its position in shares of Lightwave Logic by 1,218.4% during the second quarter. Brevan Howard Capital Management LP now owns 194,501 shares of the company's stock worth $241,000 after buying an additional 179,748 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Lightwave Logic by 159.4% during the second quarter. Envestnet Asset Management Inc. now owns 56,952 shares of the company's stock worth $71,000 after buying an additional 35,000 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Lightwave Logic by 183.6% during the second quarter. XTX Topco Ltd now owns 56,610 shares of the company's stock worth $70,000 after buying an additional 36,649 shares in the last quarter. Hedge funds and other institutional investors own 27.04% of the company's stock.

Lightwave Logic Company Profile

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.