Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Up 29.5% in March

Lucid Diagnostics Inc. (NASDAQ:LUCDGet Rating) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 502,700 shares, an increase of 29.5% from the March 15th total of 388,200 shares. Approximately 9.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 162,700 shares, the days-to-cover ratio is currently 3.1 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUCD. Kornitzer Capital Management Inc. KS acquired a new stake in Lucid Diagnostics during the fourth quarter worth approximately $714,000. New York State Common Retirement Fund acquired a new stake in Lucid Diagnostics during the fourth quarter worth approximately $74,000. Northern Trust Corp acquired a new stake in Lucid Diagnostics during the fourth quarter worth approximately $207,000. Bank of America Corp DE acquired a new stake in Lucid Diagnostics during the fourth quarter worth approximately $29,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Lucid Diagnostics during the fourth quarter worth approximately $59,000.

Shares of LUCD stock traded down $0.33 on Monday, hitting $2.13. The company had a trading volume of 3,709 shares, compared to its average volume of 174,933. The company’s 50-day moving average price is $3.35. Lucid Diagnostics has a twelve month low of $2.31 and a twelve month high of $13.52.

Lucid Diagnostics (NASDAQ:LUCDGet Rating) last issued its quarterly earnings results on Monday, March 28th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.12). As a group, equities analysts forecast that Lucid Diagnostics will post -1.2 earnings per share for the current year.

LUCD has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on Lucid Diagnostics from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. Needham & Company LLC lowered their target price on Lucid Diagnostics from $13.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, March 29th. BTIG Research lowered their target price on Lucid Diagnostics from $14.00 to $6.00 in a report on Tuesday, April 5th. Ascendiant Capital Markets started coverage on Lucid Diagnostics in a report on Monday, December 27th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Zacks Investment Research cut Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $13.14.

Lucid Diagnostics Company Profile (Get Rating)

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease, also known as chronic heartburn, acid reflux or simply reflux, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma.

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