Pulmonx Co. (NASDAQ:LUNG) Short Interest Up 31.1% in May

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,560,000 shares, a growth of 31.1% from the April 30th total of 1,190,000 shares. Based on an average trading volume of 359,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 4.4% of the company's stock are sold short.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LUNG shares. Morgan Stanley started coverage on Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating for the company. Jefferies Financial Group started coverage on Pulmonx in a research report on Monday, March 10th. They set a "buy" rating for the company. Canaccord Genuity Group lowered their target price on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler reiterated an "overweight" rating and issued a $9.00 price target (down from $10.00) on shares of Pulmonx in a report on Thursday, May 1st. Finally, Citigroup decreased their price objective on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.53.

Insider Buying and Selling

In related news, Director Daniel P. Florin acquired 23,321 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $3.06 per share, for a total transaction of $71,362.26. Following the completion of the purchase, the director now directly owns 117,231 shares of the company's stock, valued at approximately $358,726.86. The trade was a 24.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $7.85, for a total value of $157,000.00. Following the transaction, the director now directly owns 991,974 shares in the company, valued at approximately $7,786,995.90. This trade represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,388 shares of company stock worth $267,764 over the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Pulmonx

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Pulmonx by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock valued at $2,142,000 after acquiring an additional 2,363 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Pulmonx by 4.6% in the first quarter. Rhumbline Advisers now owns 55,958 shares of the company's stock valued at $377,000 after purchasing an additional 2,455 shares during the period. American Century Companies Inc. boosted its stake in shares of Pulmonx by 8.8% in the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock valued at $236,000 after purchasing an additional 2,810 shares during the period. SG Americas Securities LLC grew its holdings in Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after purchasing an additional 3,310 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Pulmonx by 48.7% during the 4th quarter. Wells Fargo & Company MN now owns 18,418 shares of the company's stock worth $125,000 after buying an additional 6,033 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

Pulmonx Trading Up 6.7%

Pulmonx stock traded up $0.20 during midday trading on Friday, reaching $3.17. The stock had a trading volume of 1,036,300 shares, compared to its average volume of 315,459. The stock has a market capitalization of $127.62 million, a PE ratio of -2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The stock's 50-day simple moving average is $4.34 and its 200 day simple moving average is $5.97. Pulmonx has a twelve month low of $2.83 and a twelve month high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The business had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. Analysts expect that Pulmonx will post -1.55 EPS for the current year.

Pulmonx Company Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.