Lightwave Logic (NASDAQ:LWLG) Stock Price Down 8.1%

Lightwave Logic, Inc. (NASDAQ:LWLG) shares fell 8.1% during trading on Thursday . The stock traded as low as $3.03 and last traded at $3.06. 668,573 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 676,632 shares. The stock had previously closed at $3.33.

Lightwave Logic Stock Down 8.1 %

The firm has a fifty day moving average of $3.59 and a 200-day moving average of $4.20. The stock has a market capitalization of $367.48 million, a price-to-earnings ratio of -17.00 and a beta of 1.97.

Lightwave Logic (NASDAQ:LWLG) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $0.03 million during the quarter.

Institutional Investors Weigh In On Lightwave Logic

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. grew its position in shares of Lightwave Logic by 2.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 111,314 shares of the company’s stock valued at $498,000 after purchasing an additional 2,825 shares during the period. Victory Capital Management Inc. grew its position in shares of Lightwave Logic by 23.7% in the fourth quarter. Victory Capital Management Inc. now owns 15,668 shares of the company’s stock valued at $78,000 after purchasing an additional 2,998 shares during the period. Swiss National Bank grew its position in shares of Lightwave Logic by 1.4% in the third quarter. Swiss National Bank now owns 239,000 shares of the company’s stock valued at $1,068,000 after purchasing an additional 3,200 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Lightwave Logic by 4.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 83,428 shares of the company’s stock valued at $391,000 after purchasing an additional 3,609 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Lightwave Logic by 14.8% in the first quarter. ProShare Advisors LLC now owns 29,739 shares of the company’s stock valued at $139,000 after purchasing an additional 3,832 shares during the period. Hedge funds and other institutional investors own 27.04% of the company’s stock.

About Lightwave Logic

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.