Pulmonx Corporation (NASDAQ:LUNG) Short Interest Update

Key Points

• Short interest fell 13.4% to 2,857,097 shares as of March 31, with about 7.3% of the stock shorted and a short-interest ratio of 5.1 days (based on average daily volume of 554,950 shares).
• CEO Glendon E. French III sold 67,813 shares on March 2 at an average price of $1.43 (reducing his stake by 4.59%); insiders have sold 98,265 shares in the last 90 days and own about 6.8% of the company.
• Pulmonx shares trade near $1.49 (market cap ~$62.7M); the company reported Q4 EPS of -$0.25 (beating estimates) and $22.6M revenue, while analysts’ consensus is a Hold with an average target of $5.38.

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 2,857,097 shares, a decrease of 13.4% from the March 15th total of 3,299,976 shares. Approximately 7.3% of the company's stock are short sold. Based on an average daily volume of 554,950 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling at Pulmonx

In other news, CEO Glendon E. French III sold 67,813 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1.43, for a total value of $96,972.59. Following the transaction, the chief executive officer owned 1,409,511 shares in the company, valued at $2,015,600.73. This represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 98,265 shares of company stock valued at $140,519. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pulmonx

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in Pulmonx during the fourth quarter worth approximately $27,000. Opal Capital LLC bought a new stake in Pulmonx during the fourth quarter worth approximately $29,000. Regatta Capital Group LLC bought a new stake in Pulmonx during the fourth quarter worth approximately $30,000. Lazard Asset Management LLC bought a new stake in Pulmonx during the fourth quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC bought a new stake in Pulmonx during the third quarter worth approximately $29,000. Institutional investors own 91.04% of the company's stock.

Pulmonx Stock Up 1.7%

Shares of NASDAQ LUNG traded up $0.03 during trading hours on Friday, hitting $1.49. The stock had a trading volume of 131,410 shares, compared to its average volume of 460,699. The company has a market capitalization of $62.72 million, a P/E ratio of -1.12 and a beta of 0.19. The firm's 50-day moving average price is $1.47 and its two-hundred day moving average price is $1.74. Pulmonx has a 52 week low of $1.13 and a 52 week high of $5.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.28 and a current ratio of 5.07.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.14. The business had revenue of $22.60 million during the quarter, compared to analysts' expectations of $21.73 million. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%. Analysts anticipate that Pulmonx will post -1.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LUNG shares. D. Boral Capital reiterated a "buy" rating and issued a $14.00 target price on shares of Pulmonx in a report on Thursday, March 5th. Canaccord Genuity Group lowered their price target on Pulmonx from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Pulmonx in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.38.

About Pulmonx

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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