SSgA Funds Management, Inc. has recently announced that it has increased stake in Lightwave Logic Inc. (NASDAQ:LWLG) by 2.13%. After grabbing 2.25 million shares, the institutional investor is now in possession of 46957.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 1.99% having worth around $10.12 million. Moreover, Geode Capital Management LLC increased its share by 87951.0 to have a control over 2.18 million shares. And SG Americas Securities LLC raised its holdings to 0.22 million shares by acquiring 0.36 million shares or 0.32% of the stake.
Lightwave Logic Inc. (LWLG) concluded trading on 05/25/23 at a closing price of $5.50, with 3.74 million shares of worth about $20.55 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -34.21% during that period and on Thursday the price saw a gain of about 5.97%. Currently the company’s common shares owned by public are about 113.27M shares, out of which, 112.05M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 0 analysts are covering the LWLG stock and their offered price forecasts bring an average price target of $2.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $2.71 and could fall to a lowest price of $2.71. However, touching the estimated high of $2.71 would mean a loss of -102.95% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 7 times over the past 12 months. They bought 255,616 shares in 6 of the transactions. In 1 selling transactions, insiders dumped 31,000 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Lightwave Logic Inc. Vanguard Total Stock Market ETF is currently holding 3.3 million shares of worth totaling $14.85 million. The company recently came buying 0.0 shares which brought its stake up to 2.92% of the company’s outstanding shares. iShares Russell 2000 ETF sold 34640.0 shares, after which its hold over company’s outstanding shares shrunk to 2.09%, leaving 2.37 million shares with the mutual fund that have a worth of about $10.66 million. Vanguard Extended Market Index Fu, after buying 1.55 million shares, have now control over 1.37% of the stake in the company. It holds 1385.0 shares of worth $6.96 million.
Lightwave Logic Inc. (NASDAQ: LWLG) started trading at $5.95, above $0.76 from concluding price of the previous day. However, the stock later moved at a day high price of 6.68, or with a gain of 5.97%. Stock saw a price change of 0.18% in past 5 days and over the past one month there was a price change of 32.85%. Year-to-date (YTD), LWLG shares are showing a performance of 27.61% which decreased to -25.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.88 but also hit the highest price of $12.43 during that period. The average intraday trading volume for Lightwave Logic Inc. shares is 585.82K. The stock is currently trading 16.57% above its 20-day simple moving average (SMA20), while that difference is up 16.49% for SMA50 and it goes to -16.18% lower than SMA200.
SSgA Funds Management, Inc. acquired 2.25 million shares of Lightwave Logic Inc. having value of about $10.12 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 46957.0 shares in the company valued at close to $258263.5, or have control over 2.13% stake in the company. Lightwave Logic Inc. (NASDAQ: LWLG) currently have 113.27M outstanding shares and institutions hold larger chunk of about 22.40% of that. Holding of mutual funds in the company is about 13.14% while other institutional holders and individual stake holders have control over 7.27% and 10.10% of the stake respectively.
The stock has a current market capitalization of $677.38M and its 3Y-monthly beta is at 2.18. It has posted earnings per share of -$0.15 in the same period. It has Quick Ratio of 32.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LWLG, volatility over the week remained 12.96% while standing at 9.77% over the month.
Analysts are in expectations that Lightwave Logic Inc. (LWLG) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 13.00%.
Analysts at 0 brokerage firms have issued recommendations for the Lightwave Logic Inc. (LWLG)’s stock out of those 0 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
