Lucid Diagnostics Inc. (NASDAQ:LUCD) Sees Significant Decrease in Short Interest

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 1,080,000 shares, a decrease of 39.3% from the May 15th total of 1,780,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 0.9 days. Approximately 2.7% of the company's stock are sold short.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Berkshire Asset Management LLC PA purchased a new position in Lucid Diagnostics during the first quarter valued at $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Lucid Diagnostics during the first quarter valued at $37,000. Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics during the first quarter valued at $39,000. LPL Financial LLC lifted its position in Lucid Diagnostics by 29.1% during the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company's stock valued at $44,000 after purchasing an additional 12,035 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Lucid Diagnostics during the fourth quarter valued at $67,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Diagnostics Stock Performance

Shares of LUCD stock traded up $0.03 on Thursday, reaching $1.26. The stock had a trading volume of 752,717 shares, compared to its average volume of 591,558. The stock has a market cap of $136.32 million, a P/E ratio of -0.94 and a beta of 1.31. Lucid Diagnostics has a 1 year low of $0.68 and a 1 year high of $1.80. The company has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $1.19.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BTIG Research set a $2.00 target price on Lucid Diagnostics in a research report on Tuesday, March 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $2.00 target price on shares of Lucid Diagnostics in a research report on Thursday, May 15th. Ascendiant Capital Markets increased their target price on Lucid Diagnostics from $7.50 to $7.75 and gave the stock a "buy" rating in a research report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered Lucid Diagnostics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $3.55.

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.