Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Increases By 32.8%

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,780,000 shares, a growth 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 days-to-cover ratio is currently 1.6 days. Approximately 4.4% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BTIG Research set a $2.00 price target on shares of Lucid Diagnostics in a research report on Tuesday, March 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $3.00 target price on shares of Lucid Diagnostics in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets lifted their target price on shares of Lucid Diagnostics from $7.00 to $7.50 and gave the stock a "buy" rating in a research note on Monday, April 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2.00 target price on shares of Lucid Diagnostics in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $3.50.

Institutional Investors Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in Lucid Diagnostics by 29.1% during the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company's stock worth $44,000 after buying an additional 12,035 shares during the period. Berkshire Asset Management LLC PA purchased a new stake in Lucid Diagnostics during the 1st quarter worth approximately $30,000. Goldman Sachs Group Inc. increased its stake in Lucid Diagnostics by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company's stock worth $129,000 after buying an additional 22,727 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Lucid Diagnostics during the 1st quarter worth approximately $37,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Lucid Diagnostics during the 1st quarter worth approximately $39,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

Lucid Diagnostics Stock Performance

Shares of Lucid Diagnostics stock traded up $0.01 on Thursday, reaching $1.23. The company had a trading volume of 598,097 shares, compared to its average volume of 562,460. The firm's 50 day moving average price is $1.33 and its two-hundred day moving average price is $1.16. The firm has a market cap of $132.53 million, a PE ratio of -1.07 and a beta of 1.31. Lucid Diagnostics has a 52-week low of $0.68 and a 52-week high of $1.80.

Lucid Diagnostics Company Profile

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.