Lightwave Logic (NASDAQ:LWLG) Stock Jumps 6.5% – Still a Buy?

Lightwave Logic Inc. (NASDAQ:LWLG)’s share price traded up 6.5% during trading on Thursday. The stock traded as high as $5.28 and last traded at $5.3250. Approximately 917,473 shares traded hands during trading, a decline of 81% from the average session volume of 4,821,996 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Freedom Broker began coverage on Lightwave Logic in a research report on Thursday, September 17th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Lightwave Logic from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Lightwave Logic Price Performance

The firm’s 50 day simple moving average is $5.98 and its two-hundred day simple moving average is $8.65. The firm has a market capitalization of $839.46 million, a P/E ratio of -34.09 and a beta of 2.41.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $0.03 million for the quarter. Lightwave Logic had a negative net margin of 9,143.60% and a negative return on equity of 30.34%.

Hedge Funds Weigh In On Lightwave Logic

A number of large investors have recently bought and sold shares of LWLG. BlackRock Inc. bought a new position in shares of Lightwave Logic during the second quarter valued at about $116,413,000. Bank of New York Mellon Corp purchased a new position in Lightwave Logic during the 2nd quarter valued at about $4,370,000. Algert Global LLC bought a new position in Lightwave Logic during the 2nd quarter valued at approximately $2,753,000. Bleakley Financial Group LLC purchased a new stake in Lightwave Logic in the 1st quarter worth approximately $1,739,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Lightwave Logic in the 2nd quarter worth approximately $2,069,000. 27.04% of the stock is owned by hedge funds and other institutional investors.

Lightwave Logic Company Profile

Lightwave Logic, Inc develops advanced photonic materials and devices designed to improve the speed, energy efficiency and performance of optical communications systems. The company’s core technology is based on electro-optic polymers, which can convert electrical signals into optical signals at high speeds.

Its product and technology portfolio includes proprietary organic nonlinear optical chromophores, polymer materials and polymer-based electro-optic modulators. These technologies are intended for applications such as data-center interconnects, telecommunications, high-performance computing and other systems that transmit large volumes of data using optical networks.

Founded in 1991 and headquartered in Englewood, Colorado, Lightwave Logic conducts research and development in the United States and works to support the adoption of its materials and devices through industry relationships and potential licensing or commercialization arrangements.