Lightwave Logic, Inc. (PINK:LWLG) has been building up on volume in the last couple of days which was apparently predominated by buyers since the stock took a high jump in the last two sessions.
Specifically speaking, LWLG went up 25% from $0.63 to $0.79 on a volume on 11 thousand shares on Friday. On the next session, the stock went further up by 2.53% to $0.81 on a volume of 54 thousand shares.
During the mentioned trading days, the number of exchanged shares was several times higher than the daily average. On Friday, the short volume reported by FINRA was 39 thousand shares, which was 35% of the total volume, whereas the short volume for Monday was 20 thousand shares or 37% of the total volume.
The jump of LWLG stock seems technical in nature as there hasn’t been any announcements or reports recently. The last report from the company was a 10-Q and was filed in mid-November.
The report showed the company’s assets exceed it liabilities and there was a working capital surplus of nearly $400 thousand. However, there has been a slight decrease in assets and an increase in the total liabilities as compared with the same quarter in 2010. There is also an $3 million increase in the accumulated deficit from last year.
Apparently, LWLG is being driven by technical factors these days. The stock has been pushed up to the upper border of its established trading range and the focus of market speculators will most likely be fixed in this area in the forthcoming session.
