Pulmonx (NASDAQ:LUNG) Lowered to Sell Rating by Wall Street Zen

Key Points

• Pulmonx's stock rating has been downgraded from "hold" to "sell" by Wall Street Zen, with the average price target now at $7.66.
• Various analysts have adjusted their price objectives, with Lake Street Capital lowering theirs from $12.00 to $8.00 and Citigroup from $6.50 to $4.15.
• Pulmonx shares opened at $1.61, down 12.5%, and the company reported a loss of $0.38 EPS in its latest quarter, surpassing analyst estimates of a loss of $0.40.

Wall Street Zen downgraded shares of Pulmonx (NASDAQ:LUNG - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other equities analysts have also commented on LUNG. Citigroup lowered their price target on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Lake Street Capital cut their price target on shares of Pulmonx from $12.00 to $8.00 and set a "buy" rating for the company in a report on Thursday. Piper Sandler downgraded Pulmonx from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $9.00 to $2.50 in a research report on Thursday. Canaccord Genuity Group decreased their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, D. Boral Capital reduced their price target on shares of Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.66.

Pulmonx Stock Performance

Shares of LUNG traded up $0.04 during trading hours on Friday, hitting $1.65. The company had a trading volume of 1,667,942 shares, compared to its average volume of 411,714. Pulmonx has a 12 month low of $1.59 and a 12 month high of $9.37. The firm has a market cap of $66.43 million, a price-to-earnings ratio of -1.15 and a beta of 0.43. The business has a fifty day moving average of $2.91 and a 200-day moving average of $4.94. The company has a quick ratio of 4.29, a current ratio of 4.97 and a debt-to-equity ratio of 0.38.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.02. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 66.36%. The business had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.46 million. Equities analysts anticipate that Pulmonx will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling at Pulmonx

In related news, General Counsel David Aaron Lehman sold 10,457 shares of Pulmonx stock in a transaction that occurred 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 sale, the general counsel directly owned 273,039 shares in the company, valued at $854,612.07. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Florin acquired 23,321 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $3.06 per share, with a total value of $71,362.26. Following the completion of the transaction, the director owned 117,231 shares of the company's stock, valued at $358,726.86. This trade represents a 24.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 43,388 shares of company stock worth $136,044 over the last quarter. Insiders own 6.80% of the company's stock.

Institutional Trading of Pulmonx

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in Pulmonx during the fourth quarter worth $43,000. ProShare Advisors LLC acquired a new position in Pulmonx during the fourth quarter worth $72,000. Stifel Financial Corp acquired a new position in Pulmonx during the fourth quarter worth $81,000. Vontobel Holding Ltd. acquired a new position in Pulmonx during the first quarter worth $82,000. Finally, R Squared Ltd acquired a new position in Pulmonx during the second quarter worth $41,000. Institutional investors own 91.04% of the company's stock.

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.