LumiraDx Limited (NASDAQ:LMDX) Short Interest Up 17.3% in December

LumiraDx Limited (NASDAQ:LMDX – Get Rating) saw a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 273,500 shares, a growth of 17.3% from the December 15th total of 233,100 shares. Based on an average trading volume of 281,900 shares, the short-interest ratio is currently 1.0 days. Currently, 1.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMDX. The Goldman Sachs Group began coverage on LumiraDx in a research note on Monday, December 19th. They issued a “neutral” rating for the company. Raymond James reduced their target price on LumiraDx from $4.00 to $3.50 and set an “outperform” rating for the company in a research note on Friday, November 11th.

LumiraDx Stock Performance

NASDAQ LMDX opened at $0.89 on Friday. The stock has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.30. The firm has a market capitalization of $224.91 million, a P/E ratio of -0.63 and a beta of 1.24. LumiraDx has a fifty-two week low of $0.77 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 20.12, a quick ratio of 1.63 and a current ratio of 2.91.

LumiraDx (NASDAQ:LMDX – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.17). The company had revenue of $42.22 million for the quarter, compared to analysts’ expectations of $28.89 million. LumiraDx had a negative net margin of 115.81% and a negative return on equity of 456.53%. On average, equities analysts forecast that LumiraDx will post -1.47 earnings per share for the current year.

Hedge Funds Weigh In On LumiraDx

A number of institutional investors have recently modified their holdings of LMDX. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of LumiraDx during the 2nd quarter valued at about $40,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of LumiraDx during the 2nd quarter valued at about $80,000. Hyman Charles D acquired a new stake in shares of LumiraDx during the 3rd quarter valued at about $31,000. Virtu Financial LLC grew its position in shares of LumiraDx by 186.0% during the 3rd quarter. Virtu Financial LLC now owns 30,047 shares of the company’s stock valued at $31,000 after acquiring an additional 19,541 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of LumiraDx during the 3rd quarter valued at about $39,000.

About LumiraDx

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LumiraDx Limited operates as a point of care diagnostics company. The company focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. It manufactures and commercializes a diagnostic platform that supports various tests with lab comparable performance at the point of care.