Pulmonx Co. (NASDAQ:LUNG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Pulmonx Co. (NASDAQ:LUNG) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.53.

Several brokerages have recently commented on LUNG. Morgan Stanley began coverage on Pulmonx in a report on Monday, March 10th. They set an “equal weight” rating for the company. Piper Sandler reissued an “overweight” rating and set a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a report on Thursday, May 1st. Citigroup cut their price objective on Pulmonx from $6.50 to $4.15 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Jefferies Financial Group began coverage on Pulmonx in a report on Monday, March 10th. They set a “buy” rating for the company. Finally, D. Boral Capital reissued a “buy” rating and set a $17.00 price objective on shares of Pulmonx in a report on Thursday, May 1st.

Insiders Place Their Bets

In other Pulmonx news, CFO Mehul Joshi sold 8,061 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $25,230.93. Following the completion of the sale, the chief financial officer now owns 213,925 shares of the company’s stock, valued at $669,585.25. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glendon E. French III sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $7.85, for a total value of $157,000.00. Following the completion of the sale, the director now directly owns 991,974 shares of the company’s stock, valued at approximately $7,786,995.90. This represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,388 shares of company stock valued at $267,764 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Pulmonx

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Pulmonx in the fourth quarter worth approximately $43,000. ProShare Advisors LLC bought a new stake in Pulmonx in the fourth quarter valued at approximately $72,000. Stifel Financial Corp bought a new stake in Pulmonx in the fourth quarter valued at approximately $81,000. Vontobel Holding Ltd. bought a new stake in Pulmonx in the first quarter valued at approximately $82,000. Finally, SG Americas Securities LLC lifted its position in Pulmonx by 27.0% in the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after purchasing an additional 3,310 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Price Performance

LUNG stock opened at $3.40 on Wednesday. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $136.88 million, a PE ratio of -2.36 and a beta of 0.52. Pulmonx has a twelve month low of $2.83 and a twelve month high of $9.37. The stock has a 50-day simple moving average of $4.13 and a two-hundred day simple moving average of $5.91.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $22.54 million during the quarter, compared to analyst estimates of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, equities analysts predict that Pulmonx will post -1.55 EPS for the current fiscal year.

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.