Pulmonx (NASDAQ:LUNG) Reaches New 1-Year Low at $28.67

Pulmonx Co. (NASDAQ:LUNG) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $28.67 and last traded at $28.67, with a volume of 2944 shares trading hands. The stock had previously closed at $30.82.

A number of research firms recently issued reports on LUNG. Zacks Investment Research downgraded shares of Pulmonx from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Pulmonx from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 3rd. Morgan Stanley dropped their price objective on shares of Pulmonx from $48.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, January 7th. Finally, Piper Sandler raised shares of Pulmonx from a “neutral” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Wednesday, December 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $52.75.

The company has a current ratio of 10.25, a quick ratio of 9.57 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $33.77 and its two-hundred day simple moving average is $37.59.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Monday, November 1st. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.09. Pulmonx had a negative net margin of 98.57% and a negative return on equity of 20.53%. The business had revenue of $13.26 million for the quarter, compared to the consensus estimate of $13.36 million. During the same quarter in the previous year, the firm earned ($1.37) earnings per share. As a group, equities research analysts forecast that Pulmonx Co. will post -1.33 EPS for the current fiscal year.

In other news, CEO Glendon E. French III sold 25,000 shares of Pulmonx stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $39.75, for a total transaction of $993,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Glendon E. French III sold 1,421 shares of Pulmonx stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $32.73, for a total transaction of $46,509.33. The disclosure for this sale can be found here. Insiders have sold 109,159 shares of company stock worth $3,790,514 in the last ninety days. Insiders own 12.56% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its position in Pulmonx by 107.7% in the third quarter. US Bancorp DE now owns 1,030 shares of the company’s stock worth $37,000 after purchasing an additional 534 shares during the last quarter. Citigroup Inc. increased its position in Pulmonx by 104.5% in the second quarter. Citigroup Inc. now owns 1,575 shares of the company’s stock worth $69,000 after purchasing an additional 805 shares during the last quarter. Royal Bank of Canada increased its position in Pulmonx by 113.1% in the second quarter. Royal Bank of Canada now owns 1,839 shares of the company’s stock worth $81,000 after purchasing an additional 976 shares during the last quarter. UBS Group AG increased its position in Pulmonx by 1,071.4% in the third quarter. UBS Group AG now owns 3,280 shares of the company’s stock worth $118,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Pulmonx by 158.1% in the second quarter. Legal & General Group Plc now owns 3,773 shares of the company’s stock worth $166,000 after purchasing an additional 2,311 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Pulmonx Company Profile (NASDAQ:LUNG)

Pulmonx Corporation, a medical technology company, designs, develops, manufactures, and markets minimally invasive medical devices for the diagnosis and treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console with flow and pressure sensors that are used to assess the presence of collateral ventilation.

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