Ronald Bucchi Sells 10,000 Shares of Lightwave Logic (NASDAQ:LWLG) Stock

Key Points

• Director Ronald Bucchi sold 10,000 shares of Lightwave Logic (NASDAQ:LWLG) at an average price of $3.97, totaling $39,700, resulting in a 5.11% decrease in his shareholding.
• Lightwave Logic's stock rose by 10.7% to $4.33 following the transaction, with a total trading volume significantly higher than its average.
• Several hedge funds have either increased their stakes in Lightwave Logic or established new positions, indicating growing institutional interest in the company.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) Director Ronald Bucchi sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $3.97, for a total transaction of $39,700.00. Following the completion of the sale, the director owned 185,583 shares in the company, valued at $736,764.51. This represents a 5.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Lightwave Logic Stock Up 10.7%

Shares of NASDAQ:LWLG traded up $0.42 during trading on Thursday, hitting $4.33. 1,982,530 shares of the company were exchanged, compared to its average volume of 1,345,339. Lightwave Logic Inc. has a 1-year low of $0.79 and a 1-year high of $4.80. The company has a market capitalization of $560.48 million, a P/E ratio of -24.05 and a beta of 2.53. The business's 50 day moving average is $2.94 and its 200-day moving average is $1.76.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Lightwave Logic from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. bought a new stake in shares of Lightwave Logic in the 4th quarter valued at $35,000. BNP Paribas Financial Markets acquired a new stake in Lightwave Logic during the 4th quarter worth about $32,000. Bank of America Corp DE raised 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. Millennium Management LLC bought a new stake in shares of Lightwave Logic during the 4th quarter valued at about $364,000. Finally, ProShare Advisors LLC increased its holdings in Lightwave Logic by 45.5% in the fourth quarter. ProShare Advisors LLC now owns 48,879 shares of the company's stock worth $103,000 after purchasing an additional 15,294 shares in the last quarter. 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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