Lightwave Logic (NASDAQ:LWLG) Trading 8.8% Higher - Still a Buy?

Key Points

• Lightwave Logic Inc. (NASDAQ:LWLG) saw an 8.8% increase in stock price, trading at $5.05, while experiencing a significant decline in volume compared to the average session.
• Analysts have mixed opinions on the stock, with Weiss Ratings reaffirming a "sell" rating while Wall Street Zen upgraded it from "sell" to "hold." The average rating remains a "sell."
• Insider trading activity included notable sales by Directors Thomas M. Connelly, Jr. and Laila Partridge, who collectively sold 16,000 shares, indicating a potential lack of confidence from company insiders.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) traded up 8.8% during trading on Wednesday . The stock traded as high as $4.95 and last traded at $5.05. 674,089 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,368,229 shares. The stock had previously closed at $4.64.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LWLG shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lightwave Logic in a research note on Wednesday. Wall Street Zen raised Lightwave Logic from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lightwave Logic presently has an average rating of "Sell".

Lightwave Logic Trading Up 7.7%

The business has a fifty day moving average of $3.10 and a 200 day moving average of $1.87. The company has a market capitalization of $646.55 million, a PE ratio of -27.75 and a beta of 2.53.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last announced its 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 firm had revenue of $0.03 million for the quarter.

Insider Activity at Lightwave Logic

In related news, Director Thomas M. Connelly, Jr. sold 6,000 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $4.25, for a total transaction of $25,500.00. Following the completion of the transaction, the director directly owned 45,811 shares in the company, valued at $194,696.75. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laila Partridge sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total value of $41,100.00. Following the transaction, the director owned 53,802 shares of the company's stock, valued at $221,126.22. This trade represents a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock worth $106,300 in the last three months. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lightwave Logic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in shares of Lightwave Logic by 225.2% in the 2nd quarter. Jane Street Group LLC now owns 545,100 shares of the company's stock valued at $676,000 after buying an additional 377,484 shares during the period. Bank of New York Mellon Corp boosted 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 buying an additional 67,992 shares during the period. Marshall Wace LLP purchased a new position in shares of Lightwave Logic in the 2nd quarter valued at about $458,000. UMB Bank n.a. boosted 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 buying an additional 20,000 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Lightwave Logic in the 1st quarter valued at about $315,000. Hedge funds and other institutional investors own 27.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.