Lightwave Logic (NASDAQ:LWLG) Upgraded by Wall Street Zen to Hold Rating

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 note published on Saturday.

Lightwave Logic Trading Up 1.0%

LWLG stock traded up $0.02 during midday trading on Friday, hitting $2.07. 601,309 shares of the company's stock were exchanged, compared to its average volume of 1,314,570. Lightwave Logic has a 12-month low of $0.79 and a 12-month high of $4.23. The firm has a 50 day moving average price of $1.76 and a 200-day moving average price of $1.36. The stock has a market capitalization of $267.94 million, a price-to-earnings ratio of -11.50 and a beta of 2.43.

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

Institutional Investors Weigh In On Lightwave Logic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Lightwave Logic in the 4th quarter worth approximately $34,000. Ameriprise Financial Inc. acquired a new position in shares of Lightwave Logic in the 4th quarter worth approximately $35,000. Price T Rowe Associates Inc. MD grew its position in shares of Lightwave Logic by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 165,768 shares of the company's stock worth $349,000 after acquiring an additional 35,433 shares in the last quarter. Bank of America Corp DE grew its position 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 worth $338,000 after acquiring an additional 27,900 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Lightwave Logic in the 4th quarter worth approximately $49,000. 27.04% of the stock is currently owned by hedge funds and other institutional investors.

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.