Short Interest in LumiraDx Limited (NASDAQ:LMDX) Grows By 2,649.3%

LumiraDx Limited (NASDAQ:LMDXGet Free Report) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,950,000 shares, a growth of 2,649.3% from the October 15th total of 107,300 shares. Based on an average daily trading volume, of 8,930,000 shares, the short-interest ratio is presently 0.3 days. Approximately 2.8% of the company’s stock are sold short.

LumiraDx Stock Performance

Shares of LMDX stock opened at $0.09 on Friday. LumiraDx has a 12 month low of $0.08 and a 12 month high of $1.61. The stock has a market cap of $28.99 million, a P/E ratio of -0.08 and a beta of 1.27. The company has a 50 day simple moving average of $0.20 and a two-hundred day simple moving average of $0.36.

LumiraDx (NASDAQ:LMDXGet Free Report) last announced its earnings results on Thursday, August 24th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $21.00 million for the quarter, compared to analyst estimates of $21.07 million. During the same period in the prior year, the company posted ($0.58) earnings per share.

Wall Street Analyst Weigh In

Separately, Raymond James decreased their price objective on shares of LumiraDx from $1.00 to $0.80 and set an “outperform” rating for the company in a report on Monday, August 28th.

Read Our Latest Research Report on LumiraDx

Institutional Trading of LumiraDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Colony Group LLC bought a new position in shares of LumiraDx in the second quarter worth approximately $787,000. Renaissance Technologies LLC bought a new position in shares of LumiraDx during the third quarter worth $50,000. Citadel Advisors LLC bought a new position in shares of LumiraDx during the third quarter worth $39,000. Pathstone Family Office LLC bought a new position in shares of LumiraDx during the third quarter worth $47,000. Finally, Balyasny Asset Management LLC boosted its position in shares of LumiraDx by 36,072.9% during the third quarter. Balyasny Asset Management LLC now owns 3,771,385 shares of the company’s stock worth $3,847,000 after acquiring an additional 3,760,959 shares during the last quarter. 9.59% of the stock is owned by hedge funds and other institutional investors.

About LumiraDx

(Get Free Report)

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.

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