Lightwave Logic (NASDAQ:LWLG) Stock Price Up 8.3% - Here's Why

Key Points

• Lightwave Logic's stock price increased by 8.3% during mid-day trading, reaching a high of $4.19 before closing at $4.23.
• Wall Street analysts have upgraded Lightwave Logic from a "sell" rating to a "hold" rating, indicating a more favorable outlook for the company's future performance.
• The company reported a significant negative net margin of 22,321.05% and a negative return on equity of 66.64% in its recent quarterly earnings results.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) shares rose 8.3% during mid-day trading on Thursday . The stock traded as high as $4.19 and last traded at $4.23. Approximately 445,609 shares were traded during trading, a decline of 67% from the average daily volume of 1,336,648 shares. The stock had previously closed at $3.91.

Wall Street Analysts Forecast Growth

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

Lightwave Logic Stock Performance

The firm has a fifty day moving average price of $2.94 and a 200 day moving average price of $1.76. The firm has a market capitalization of $551.80 million, a price-to-earnings ratio of -23.69 and a beta of 2.53.

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

Hedge Funds Weigh In On Lightwave Logic

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in shares of Lightwave Logic by 225.2% in the second quarter. Jane Street Group LLC now owns 545,100 shares of the company's stock valued at $676,000 after purchasing an additional 377,484 shares during the period. Bank of New York Mellon Corp lifted its stake 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Lightwave Logic during the second quarter worth about $458,000. UMB Bank n.a. increased its position in shares of Lightwave Logic by 5.8% during the second quarter. UMB Bank n.a. now owns 367,092 shares of the company's stock worth $455,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Lightwave Logic during the first quarter worth about $315,000. 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.

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