Pulmonx Co. (NASDAQ:LUNG) Short Interest Update

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

Pulmonx Price Performance

Shares of NASDAQ LUNG traded down $0.04 during midday trading on Thursday, hitting $3.04. The company had a trading volume of 23,108 shares, compared to its average volume of 311,337. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $122.42 million, a price-to-earnings ratio of -2.11 and a beta of 0.52. The business has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $5.99. Pulmonx has a twelve month low of $2.83 and a twelve month high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. The company had revenue of $22.54 million during the quarter, compared to analysts' expectations of $22.03 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Equities research analysts anticipate that Pulmonx will post -1.55 earnings per share for the current year.

Insider Activity

In other Pulmonx news, General Counsel David Aaron Lehman sold 10,457 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total transaction of $32,730.41. Following the transaction, the general counsel now directly owns 273,039 shares of the company's stock, valued at approximately $854,612.07. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven S. Williamson sold 9,923 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total transaction of $31,058.99. Following the transaction, the chief executive officer now directly owns 366,115 shares in the company, valued at $1,145,939.95. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,388 shares of company stock worth $267,764. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of Pulmonx in the fourth quarter valued at approximately $43,000. R Squared Ltd acquired a new position in shares of Pulmonx in the fourth quarter valued at approximately $46,000. ProShare Advisors LLC acquired a new position in shares of Pulmonx in the fourth quarter valued at approximately $72,000. Stifel Financial Corp acquired a new position in shares of Pulmonx in the fourth quarter valued at approximately $81,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Pulmonx in the first quarter valued at approximately $82,000. Institutional investors and hedge funds own 91.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUNG. Morgan Stanley began coverage on shares of Pulmonx in a research report on Monday, March 10th. They set an "equal weight" rating on the stock. Jefferies Financial Group initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a "buy" rating on the stock. Canaccord Genuity Group reduced 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. Citigroup reduced their target price on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, D. Boral Capital restated a "buy" rating and issued a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pulmonx presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.53.

About Pulmonx

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.