7 Best Nanotech Penny Stocks to Buy

2. Lightwave Logic, Inc. (NASDAQ:LWLG)

Share Price as of October 7: $2.76

Number of Hedge Fund Holders: 3

Lightwave Logic, Inc. (NASDAQ:LWLG) is a key player in the nanotechnology market. It specializes in developing photonic devices and electro-optical polymer materials systems for fiber-optic data communications, optical computing, and telecommunications markets. It also creates and synthesizes organic chromophores for use in its designs of photonic devices and electro-optic polymer systems.

Lightwave Logic, Inc. (NASDAQ:LWLG) is trying to carve out a niche in the electro-optic polymers market. It has already inked a strategic collaboration with Advanced Micro Foundry (AMF) to achieve a record-breaking low drive voltage below 1V at 200 Gbps PAM4. This is anticipated to accelerate the development of 800Gbps and 1.6T pluggable transceivers and improve optical connectivity for AI computing clusters.

In order to develop a small, ultra-high bandwidth device for data centers which need cutting-edge solutions to support AI and machine learning applications, the company announced a collaboration with Swiss company Polariton Technologies.

Globally, data centers must deal with increased power consumption and a “burgeoning” demand for faster data transmission from cloud services like AI and machine learning. The ultra-high bandwidths made possible by this device are highly suitable for next-generation internet and optical networking transceivers, which call for 200 Gbps per lane now and 400 Gbps per lane in the near future.

Despite a challenging environment, Lightwave Logic, Inc. (NASDAQ:LWLG)’s impressive gross profit margin of 91.48% for the last twelve months as of Q2 2024 highlights its operations’ effectiveness and the potential value of its technology.

As per Insider Monkey’s database, 3 hedge fund portfolios held Lightwave Logic, Inc. (NASDAQ:LWLG) at the end of the second quarter, which was 4 in the previous quarter.