Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Down 30.6% in November

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 293,100 shares, a decline of 30.6% from the October 31st total of 422,400 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 319,300 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LUCD shares. Canaccord Genuity Group reiterated a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a report on Thursday, November 14th. Cantor Fitzgerald reduced their price objective on Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Canaccord Genuity Group raised Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Ascendiant Capital Markets reduced their price target on Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lucid Diagnostics presently has a consensus rating of “Buy” and a consensus target price of $3.69.

Hedge Funds Weigh In On Lucid Diagnostics

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC grew its stake in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the period. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Price Performance

Shares of NASDAQ LUCD traded down $0.00 during trading hours on Friday, hitting $1.00. 100,778 shares of the company’s stock were exchanged, compared to its average volume of 209,494. Lucid Diagnostics has a 1-year low of $0.63 and a 1-year high of $1.58. The stock has a market capitalization of $59.30 million, a price-to-earnings ratio of -0.88 and a beta of 1.41. The company’s 50-day moving average price is $0.90 and its 200-day moving average price is $0.85.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.