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

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

Lucid Diagnostics Price Performance

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

Analysts Set New Price Targets

LUCD has been the topic of several recent analyst reports. Canaccord Genuity Group raised Lucid Diagnostics to a “strong-buy” rating in a report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a report on Thursday, November 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a report on Thursday, November 14th. Ascendiant Capital Markets reduced their target price on Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reduced their price objective on Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lucid Diagnostics currently has an average rating of “Buy” and a consensus target price of $3.69.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC lifted its position in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,671 shares of the company’s stock after buying an additional 13,835 shares during the period. Virtu Financial LLC owned about 0.07% of Lucid Diagnostics worth $28,000 as of its most recent SEC filing. 74.01% of the stock is currently owned by institutional investors.

About Lucid Diagnostics

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.