Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report) Director Thomas Connelly, Jr. sold 9,000 shares of Lightwave Logic stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.52, for a total transaction of $76,680.00. Following the transaction, the director owned 77,132 shares of the company's stock, valued at $657,164.64. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Lightwave Logic Stock Up 2.7%
Shares of NASDAQ:LWLG opened at $7.87 on Tuesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -46.29 and a beta of 2.75. Lightwave Logic Inc. has a 12-month low of $0.79 and a 12-month high of $9.03. The business's 50 day moving average is $5.13 and its 200 day moving average is $4.61.
Lightwave Logic (NASDAQ:LWLG - Get Free Report) last announced its earnings results on Friday, March 20th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $0.16 million for the quarter. Lightwave Logic had a negative net margin of 8,571.31% and a negative return on equity of 46.11%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new position in Lightwave Logic in the second quarter worth $39,000. Sherbrooke Park Advisers LLC purchased a new position in Lightwave Logic in the third quarter worth $38,000. T3 Companies LLC purchased a new position in Lightwave Logic in the fourth quarter worth $67,000. Greenspring Advisors LLC boosted its position in Lightwave Logic by 7.5% in the fourth quarter. Greenspring Advisors LLC now owns 71,725 shares of the company's stock worth $232,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its position in Lightwave Logic by 11.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 38,765 shares of the company's stock worth $126,000 after purchasing an additional 3,865 shares during the last quarter. 27.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Lightwave Logic in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".
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Lightwave Logic Company Profile
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Lightwave Logic, Inc (NASDAQ: LWLG) is a U.S.-based photonics company focused on the development and commercialization of proprietary electro‐optic polymer materials and devices for high-speed optical communications. The company's core technology platform centers on organic electro-optic polymers that offer low drive voltage, high modulation bandwidth and integration flexibility, enabling next-generation optical interconnects for data centers, telecommunications and emerging photonic computing architectures.
Lightwave Logic's product pipeline includes modulators, waveguides and integrated photonic components designed to outperform traditional lithium-niobate and silicon-based solutions in terms of size, power consumption and ease of integration.
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