Lightwave Logic (NASDAQ:LWLG) Shares Down 8.5% - Time to Sell?

Key Points

• Lightwave Logic's shares dropped 8.5%, closing at $4.74, with a trading volume that was 53% lower than average.
• Brokerages have mixed ratings on the stock, with one upgrade to "hold" from "sell" but an overall average rating still categorized as "sell."
• Insider activity included the sale of 26,000 shares by directors, indicating a potential lack of confidence amidst unfavorable market conditions.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) shares fell 8.5% during mid-day trading on Friday . The stock traded as low as $4.66 and last traded at $4.74. 668,278 shares traded hands during trading, a decline of 53% from the average session volume of 1,421,722 shares. The stock had previously closed at $5.18.

Analyst Ratings Changes

Several brokerages have weighed in on LWLG. Wall Street Zen upgraded Lightwave Logic from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Lightwave Logic in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Lightwave Logic Stock Performance

The stock has a market capitalization of $621.96 million, a price-to-earnings ratio of -26.69 and a beta of 2.53. The business has a 50-day moving average of $3.56 and a 200-day moving average of $2.07.

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

Insider Activity at Lightwave Logic

In other Lightwave Logic news, 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 transaction, the director directly owned 53,802 shares in the company, valued at approximately $221,126.22. This trade represents a 15.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald A. Bucchi sold 10,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $3.97, for a total value of $39,700.00. Following the completion of the transaction, the director owned 185,583 shares in the company, valued at $736,764.51. This trade represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock valued at $106,300 in the last three months. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LWLG. Johnson Investment Counsel Inc. grew its stake in shares of Lightwave Logic by 623.7% in the 1st quarter. Johnson Investment Counsel Inc. now owns 82,972 shares of the company's stock valued at $85,000 after purchasing an additional 71,507 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lightwave Logic by 16.0% in the 1st quarter. Bank of New York Mellon Corp now owns 492,859 shares of the company's stock valued at $505,000 after purchasing an additional 67,992 shares during the last quarter. Nuveen LLC purchased a new position in shares of Lightwave Logic in the 1st quarter valued at approximately $315,000. PTM Wealth Management LLC purchased a new position in shares of Lightwave Logic in the 2nd quarter valued at approximately $134,000. Finally, UMB Bank n.a. grew its stake in shares of Lightwave Logic by 5.8% in the 2nd quarter. UMB Bank n.a. now owns 367,092 shares of the company's stock valued at $455,000 after purchasing an additional 20,000 shares during the last quarter. 27.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

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