Lightwave Logic (NASDAQ:LWLG) Sets New 52-Week High – Still a Buy?

Lightwave Logic Inc. (NASDAQ:LWLG) shares reached a new 52-week high during trading on Friday . The company traded as high as $4.96 and last traded at $4.96, with a volume of 1477587 shares. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LWLG. Wall Street Zen raised Lightwave Logic from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lightwave Logic in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lightwave Logic currently has a consensus rating of “Sell”.

Lightwave Logic Price Performance

The firm has a market capitalization of $608.37 million, a PE ratio of -26.11 and a beta of 2.53. The company has a 50-day moving average price of $3.01 and a 200-day moving average price of $1.82.

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

Insider Activity at Lightwave Logic

In related news, Director Ronald A. 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 sale, the director owned 185,583 shares in the company, valued at approximately $736,764.51. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas M. Connelly, Jr. sold 6,000 shares of Lightwave Logic stock in a transaction that occurred on 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 sale, the director directly owned 45,811 shares of the company’s stock, valued at $194,696.75. The trade was a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,000 shares of company stock valued at $106,300. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Lightwave Logic

Large investors have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Lightwave Logic in the 1st quarter valued at about $315,000. PTM Wealth Management LLC purchased a new stake in Lightwave Logic in the second quarter valued at approximately $134,000. Ameriprise Financial Inc. acquired a new position in Lightwave Logic during the fourth quarter worth approximately $35,000. Bank of America Corp DE raised its stake in Lightwave Logic by 21.0% during the fourth quarter. Bank of America Corp DE now owns 160,788 shares of the company’s stock worth $338,000 after purchasing an additional 27,900 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Lightwave Logic in the 4th quarter valued at $49,000. 27.04% of the stock is currently owned by hedge funds and other institutional investors.

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.