Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Update

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,780,000 shares, an increase of 32.8% from the April 30th total of 1,340,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is currently 1.6 days. Approximately 4.4% of the company's shares are short sold.

Institutional Investors Weigh In On Lucid Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LUCD. LPL Financial LLC boosted its stake in shares of Lucid Diagnostics by 29.1% in the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company's stock worth $44,000 after acquiring an additional 12,035 shares during the last quarter. Berkshire Asset Management LLC PA purchased a new stake in shares of Lucid Diagnostics in the first quarter valued at about $30,000. Goldman Sachs Group Inc. raised its position in shares of Lucid Diagnostics by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company's stock valued at $129,000 after buying an additional 22,727 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Lucid Diagnostics during the 1st quarter worth $37,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics during the first quarter worth about $39,000. Hedge funds and other institutional investors own 74.01% of the company's stock.

Lucid Diagnostics Stock Performance

LUCD stock traded up $0.08 during trading on Friday, reaching $1.29. The company had a trading volume of 1,369,013 shares, compared to its average volume of 570,360. Lucid Diagnostics has a twelve month low of $0.68 and a twelve month high of $1.80. The company has a market cap of $139.56 million, a price-to-earnings ratio of -1.13 and a beta of 1.31. The firm has a 50-day simple moving average of $1.33 and a 200-day simple moving average of $1.17.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Lucid Diagnostics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and issued a $3.00 price target on shares of Lucid Diagnostics in a research report on Wednesday, May 14th. Ascendiant Capital Markets lifted their price objective on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and set a $2.00 price objective on shares of Lucid Diagnostics in a research report on Thursday, May 15th. Finally, BTIG Research set a $2.00 price target on shares of Lucid Diagnostics in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.55.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.