Pulmonx Corporation (NASDAQ:LUNG) Short Interest Down 49.2% in June

Key Points

• Short interest in Pulmonx fell sharply in June, dropping 49.2% to 1,148,892 shares as of June 30. That represents about 2.9% of the float, with a short-interest ratio of 1.3 days.
• Analyst views are mixed, with recent notes including an upgrade from sell to hold by Wall Street Zen and a reaffirmed buy rating from D. Boral Capital. MarketBeat shows a consensus rating of Hold with a $5.58 target price.
• The stock has been under pressure and remains small-cap, trading around $1.43 with a market cap of about $60.4 million. The company recently matched quarterly EPS estimates, but remains unprofitable with negative margins and a forecast for continued losses this year.

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,148,892 shares, a decline of 49.2% from the June 15th total of 2,263,505 shares. Approximately 2.9% of the company's stock are sold short. Based on an average daily volume of 862,593 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

Several research firms recently commented on LUNG. Wall Street Zen raised Pulmonx from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pulmonx in a report on Monday. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $14.00 price objective on shares of Pulmonx in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.58.

Hedge Funds Weigh In On Pulmonx

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in Pulmonx by 60.3% in the first quarter. Bank of America Corp DE now owns 1,166,826 shares of the company's stock valued at $1,505,000 after buying an additional 439,027 shares during the last quarter. ADAR1 Capital Management LLC grew its position in shares of Pulmonx by 5.4% during the first quarter. ADAR1 Capital Management LLC now owns 374,497 shares of the company's stock worth $483,000 after acquiring an additional 19,087 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Pulmonx by 9.7% during the first quarter. Renaissance Technologies LLC now owns 320,300 shares of the company's stock worth $413,000 after acquiring an additional 28,300 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Pulmonx in the 1st quarter valued at $31,000. Finally, R Squared Ltd acquired a new position in shares of Pulmonx in the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 91.04% of the company's stock.

Pulmonx Stock Down 3.4%

Shares of NASDAQ:LUNG traded down $0.05 during trading on Wednesday, hitting $1.43. 66,217 shares of the company were exchanged, compared to its average volume of 475,469. The firm's 50 day moving average price is $1.42 and its 200-day moving average price is $1.54. Pulmonx has a 12-month low of $1.13 and a 12-month high of $3.88. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.91 and a quick ratio of 4.04. The stock has a market capitalization of $60.40 million, a P/E ratio of -1.10 and a beta of 0.30.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($0.33) EPS for the quarter, meeting analysts' consensus estimates of ($0.33). Pulmonx had a negative net margin of 60.09% and a negative return on equity of 92.94%. The firm had revenue of $20.59 million for the quarter, compared to the consensus estimate of $20.43 million. On average, research analysts predict that Pulmonx will post -1.13 earnings per share for the current fiscal year.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company's flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.

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