Lightwave Logic (NASDAQ:LWLG) Shares Gap Down - Here's What Happened

Key Points

• Lightwave Logic shares fell sharply: The stock opened at $3.71 after closing at $4.39, and later traded around $3.51 on volume of about 2.4 million shares.
• Analyst views are mixed: Ratings range from strong sell to buy, with a consensus “Hold” rating and a $10.00 average price target.
• The company reported quarterly earnings per share of -$0.04 and revenue of just $0.03 million; analysts project a full-year loss of $0.18 per share.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $4.39, but opened at $3.71. Lightwave Logic shares last traded at $3.5110, with a volume of 2,400,770 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LWLG shares. Wall Street Zen cut Lightwave Logic from a "sell" rating to a "strong sell" rating in a research note on Sunday, September 6th. Freedom Broker began coverage on Lightwave Logic in a research note on Thursday, September 17th. They set a "buy" rating and a $10.00 target price on the stock. Zacks Research upgraded Lightwave Logic to a "hold" rating in a report on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lightwave Logic in a research report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.00.

Lightwave Logic Stock Performance

The company has a market cap of $595.87 million, a PE ratio of -24.16 and a beta of 2.42. The company's 50-day simple moving average is $4.83 and its 200 day simple moving average is $7.27.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $0.03 million for the quarter. Lightwave Logic had a negative return on equity of 30.34% and a negative net margin of 9,143.60%. Analysts forecast that Lightwave Logic Inc. will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Lightwave Logic

Several large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in Lightwave Logic by 841.8% in the 3rd quarter. Sterling Capital Management LLC now owns 5,321 shares of the company's stock valued at $27,000 after purchasing an additional 4,756 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Lightwave Logic by 292.1% during the second quarter. Ancora Advisors LLC now owns 7,571 shares of the company's stock worth $72,000 after buying an additional 5,640 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Lightwave Logic by 53.6% during the third quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company's stock worth $83,000 after buying an additional 5,762 shares in the last quarter. Allworth Financial LP grew its position in shares of Lightwave Logic by 461.0% during the third quarter. Allworth Financial LP now owns 9,127 shares of the company's stock worth $46,000 after buying an additional 7,500 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Lightwave Logic during the second quarter worth approximately $95,000. Hedge funds and other institutional investors own 27.04% of the company's stock.

Lightwave Logic Company Profile

Lightwave Logic, Inc. develops electro-optic polymer materials and photonic devices. Its technology is designed to convert electrical signals into optical signals and back, supporting the transmission of data through optical networks. The company's work centers on polymer-based optical modulators, including materials marketed under the Perkinamine name. Lightwave Logic is developing these devices for potential use in telecommunications, data centers and other applications that require high-speed optical communications, including systems that combine polymer technology with silicon photonics.

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