Lightwave Logic (NASDAQ:LWLG) Shares Gap Down – Should You Sell?

Lightwave Logic Inc. (NASDAQ:LWLG) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

LWLG has been the subject of several recent research reports. Zacks Research raised shares of Lightwave Logic to a “hold” rating in a research report on Friday, October 2nd. Freedom Broker initiated coverage on Lightwave Logic in a report on Thursday, September 17th. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research note on Thursday, October 15th. Finally, Wall Street Zen cut Lightwave Logic from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

Lightwave Logic Stock Performance

The stock has a fifty day simple moving average of $4.77 and a 200-day simple moving average of $7.27.

Lightwave Logic (NASDAQ:LWLG) last posted its earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.03 million during the quarter. Lightwave Logic had a negative return on equity of 30.34% and a negative net margin of 9,143.60%. On average, equities research analysts anticipate that Lightwave Logic Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Lightwave Logic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LWLG. Sterling Capital Management LLC increased its holdings in shares of Lightwave Logic by 841.8% during the third quarter. Sterling Capital Management LLC now owns 5,321 shares of the company’s stock worth $27,000 after buying an additional 4,756 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Lightwave Logic in the 2nd quarter worth approximately $72,000. Allworth Financial LP boosted its holdings in shares of Lightwave Logic by 461.0% in the 3rd quarter. Allworth Financial LP now owns 9,127 shares of the company’s stock worth $46,000 after acquiring an additional 7,500 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in Lightwave Logic during the 2nd quarter worth approximately $95,000. Finally, Capital Advisors Inc. OK bought a new stake in Lightwave Logic during the 2nd quarter worth approximately $95,000. 27.04% of the stock is currently owned by institutional investors and hedge funds.

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.