Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Up 84.7% in January

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 7,014,153 shares, a growth of 84.7% from the January 15th total of 3,797,518 shares. Based on an average daily volume of 4,345,378 shares, the days-to-cover ratio is currently 1.6 days. Approximately 5.5% of the shares of the company are short sold. Approximately 5.5% of the shares of the company are short sold. Based on an average daily volume of 4,345,378 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in Lucid Diagnostics by 41.5% in the third quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock worth $41,000 after purchasing an additional 11,917 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Lucid Diagnostics by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after buying an additional 22,727 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Lucid Diagnostics in the second quarter valued at $29,000. Centiva Capital LP acquired a new stake in shares of Lucid Diagnostics in the third quarter valued at $25,000. Finally, Sprott Inc. acquired a new position in Lucid Diagnostics during the third quarter worth about $25,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wall Street Analyst Weigh In

LUCD has been the subject of several recent research reports. Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research report on Thursday, November 13th. Ascendiant Capital Markets increased their price objective on shares of Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.94.

Lucid Diagnostics Trading Up 9.0%

NASDAQ:LUCD traded up $0.11 during mid-day trading on Friday, hitting $1.33. The stock had a trading volume of 883,791 shares, compared to its average volume of 2,593,260. The company has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.13. The stock has a market capitalization of $183.11 million, a price-to-earnings ratio of -1.28 and a beta of 1.22. Lucid Diagnostics has a 52 week low of $0.95 and a 52 week high of $1.80.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $1.35 million. As a group, equities research analysts anticipate that Lucid Diagnostics will post -0.84 earnings per share for the current year.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.