Pulmonx Co. (NASDAQ:LUNG) Short Interest Up 31.1% in May

Pulmonx Co. (NASDAQ:LUNG) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,560,000 shares, an increase of 31.1% from the April 30th total of 1,190,000 shares. Based on an average daily volume of 359,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.4% of the company’s shares are short sold.

Insider Transactions at Pulmonx

In other news, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the sale, the director now directly owns 991,974 shares in the company, valued at approximately $7,786,995.90. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Pulmonx

A number of institutional investors and hedge funds have recently modified their holdings of LUNG. Charles Schwab Investment Management Inc. raised its holdings in Pulmonx by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock valued at $2,142,000 after acquiring an additional 2,363 shares in the last quarter. Rhumbline Advisers raised its position in Pulmonx by 4.6% during the 1st quarter. Rhumbline Advisers now owns 55,958 shares of the company’s stock worth $377,000 after purchasing an additional 2,455 shares during the last quarter. American Century Companies Inc. lifted its holdings in Pulmonx by 8.8% during the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock worth $236,000 after buying an additional 2,810 shares during the period. SG Americas Securities LLC grew its position in shares of Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after buying an additional 3,310 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Pulmonx by 48.7% in the 4th quarter. Wells Fargo & Company MN now owns 18,418 shares of the company’s stock valued at $125,000 after buying an additional 6,033 shares during the last quarter. 91.04% of the stock is owned by institutional investors.

Pulmonx Stock Up 0.7%

Shares of LUNG opened at $3.15 on Wednesday. The company’s fifty day moving average is $4.49 and its two-hundred day moving average is $6.01. 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 cap of $126.85 million, a PE ratio of -2.19 and a beta of 0.52. Pulmonx has a fifty-two week low of $2.83 and a fifty-two week high of $9.37.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. The company had revenue of $22.54 million for 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%. Analysts forecast that Pulmonx will post -1.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LUNG. Jefferies Financial Group began coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a “buy” rating on the stock. Canaccord Genuity Group decreased their price objective on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $9.00 target price (down from $10.00) on shares of Pulmonx in a report on Thursday, May 1st. Morgan Stanley started coverage on Pulmonx in a research note on Monday, March 10th. They issued an “equal weight” rating on the stock. Finally, Citigroup lowered their price target on Pulmonx from $6.50 to $4.15 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.59.

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.