Weiss Ratings Reaffirms Sell (E+) Rating for Pulmonx (NASDAQ:LUNG)

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Pulmonx (NASDAQ:LUNG), reflecting ongoing concerns about its stock performance.
• Pulmonx shares opened at $1.78, showing a significant drop from its 52-week high of $9.37 and a consensus target price of $7.66.
• Several brokerages have adjusted their ratings, with Piper Sandler lowering their price target from $9.00 to $2.50, while D. Boral Capital maintains a "buy" rating with a $16.00 price objective.

Pulmonx (NASDAQ:LUNG - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on LUNG. Piper Sandler lowered Pulmonx from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $9.00 to $2.50 in a research note on Thursday, July 31st. Lake Street Capital dropped their price target on Pulmonx from $12.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. D. Boral Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Pulmonx in a report on Monday, September 8th. Wall Street Zen downgraded Pulmonx from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, Stifel Nicolaus decreased their price objective on Pulmonx from $16.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pulmonx presently has an average rating of "Hold" and a consensus target price of $7.66.

Pulmonx Stock Performance

Shares of LUNG stock opened at $1.78 on Wednesday. The stock has a fifty day moving average of $1.67 and a 200 day moving average of $3.15. Pulmonx has a 52 week low of $1.47 and a 52 week high of $9.37. The firm has a market capitalization of $72.54 million, a price-to-earnings ratio of -1.24 and a beta of 0.42. The company has a quick ratio of 4.63, a current ratio of 5.35 and a debt-to-equity ratio of 0.54.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced 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 return on equity of 69.76% and a negative net margin of 62.88%.The company had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.46 million. Pulmonx has set its FY 2025 guidance at EPS. As a group, research analysts expect that Pulmonx will post -1.55 earnings per share for the current year.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently modified their holdings of LUNG. Bank of America Corp DE increased its holdings in shares of Pulmonx by 556.6% during the second quarter. Bank of America Corp DE now owns 481,268 shares of the company's stock valued at $1,246,000 after acquiring an additional 407,971 shares in the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Pulmonx by 194.4% during the first quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock valued at $4,118,000 after acquiring an additional 404,022 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Pulmonx during the first quarter valued at $2,041,000. Nuveen LLC purchased a new stake in shares of Pulmonx during the first quarter valued at $1,336,000. Finally, Norges Bank purchased a new stake in shares of Pulmonx during the second quarter valued at $392,000. 91.04% of the stock is currently owned by institutional investors.

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.

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