Lightwave Logic Inc (NASDAQ: LWLG) stock jumped 2.86% on Friday to $4.67 against a previous-day closing price of $4.54. With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.55 million shares. During the session, the Specialty Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $4.6900 whereas the lowest price it dropped to was $4.4699. The 52-week range on LWLG shows that it touched its highest point at $9.18 and its lowest point at $3.88 during that stretch. Beta for the stock currently stands at 2.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LWLG was down-trending over the past week, with a drop of -0.43%, but this was up by 1.30% over a month. Three-month performance dropped to -31.82% while six-month performance fell -8.43%. The stock lost -46.32% in the past year, while it has gained 8.35% so far this year.
Float and Shares Shorts:
At present, 116.89 million LWLG shares are outstanding with a float of 116.23 million shares on hand for trading. On Oct 30, 2023, short shares totaled 22.21 million, which was 19.07% higher than short shares on Sep 28, 2023. In addition to Dr. Michael S. Lebby Ph.D. as the firm’s Chairman & CEO, Mr. James S. Marcelli serves as its President, COO, Principal Financial Officer, Secretary & Director.
Institutional Ownership:
Through their ownership of 22.79% of LWLG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.09% of LWLG, in contrast to 15.64% held by mutual funds. Shares owned by individuals account for 10.90%. As the largest shareholder in LWLG with 6.70% of the stake, The Vanguard Group, Inc. holds 7,807,491 shares worth 7,807,491. A second-largest stockholder of LWLG, BlackRock Fund Advisors, holds 7,249,000 shares, controlling over 6.22% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in LWLG, holding 2,564,918 shares or 2.20% stake. With a 2.85% stake in LWLG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,319,973 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.28% of LWLG stock, is the second-largest Mutual Fund holder. It holds 2,657,148 shares valued at 12.04 million. Vanguard Information Technology I holds 1.96% of the stake in LWLG, owning 2,279,651 shares worth 10.33 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LWLG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LWLG analysts setting a high price target of $2.71 and a low target of $2.71, the average target price over the next 12 months is $2.71. Based on these targets, LWLG could drop -41.97% to reach the target high and fall by -41.97% to reach the target low. Reaching the average price target will result in a decline of -41.97% from current levels.
Summary of Insider Activity:
Insiders traded LWLG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 554,616 while 264,625 shares were sold.
