Lightwave Logic (NASDAQ:LWLG) Upgraded at Wall Street Zen

Key Points

• Lightwave Logic has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• The company's stock price saw a 3.4% increase, opening at $2.15, reflecting positive market sentiment despite a challenging earnings report showing a net margin of -22,321.05%.
• Institutional investors have increased their stakes in Lightwave Logic, with Wells Fargo raising its holdings by 40.8% during the fourth quarter, reflecting increasing confidence in the company's potential.

Wall Street Zen upgraded shares of Lightwave Logic (NASDAQ:LWLG - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Lightwave Logic Trading Down 5.7%

Lightwave Logic stock traded down $0.1250 during mid-day trading on Friday, reaching $2.0750. The company had a trading volume of 714,052 shares, compared to its average volume of 1,105,524. Lightwave Logic has a fifty-two week low of $0.79 and a fifty-two week high of $4.23. The company has a market cap of $259.46 million, a P/E ratio of -11.53 and a beta of 2.43. The business has a fifty day simple moving average of $1.72 and a 200 day simple moving average of $1.35.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter. Lightwave Logic had a negative net margin of 22,321.05% and a negative return on equity of 64.62%. The company had revenue of $0.03 million during the quarter.

Institutional Trading of Lightwave Logic

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Lightwave Logic by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,867,308 shares of the company's stock valued at $6,023,000 after buying an additional 29,719 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lightwave Logic by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,037,213 shares of the company's stock worth $2,178,000 after purchasing an additional 9,042 shares during the period. Jane Street Group LLC lifted its holdings 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 purchasing an additional 377,484 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lightwave Logic by 16.0% during the first quarter. Bank of New York Mellon Corp now owns 492,859 shares of the company's stock worth $505,000 after purchasing an additional 67,992 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Lightwave Logic by 8.0% during the fourth quarter. LPL Financial LLC now owns 429,195 shares of the company's stock worth $901,000 after purchasing an additional 31,920 shares during the period. Institutional investors and hedge funds 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.