Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Down 61.2% in October

Lucid Diagnostics Inc. (NASDAQ:LUCD) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 422,400 shares, a decline of 61.2% from the October 15th total of 1,090,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 251,700 shares, the days-to-cover ratio is currently 1.7 days.

Analysts Set New Price Targets

Several analysts have weighed in on LUCD shares. Needham & Company LLC reiterated a “buy” rating and set a $2.50 target price on shares of Lucid Diagnostics in a research note on Tuesday, August 13th. Ascendiant Capital Markets lowered their price target on Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group upgraded shares of Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lucid Diagnostics currently has an average rating of “Buy” and a consensus target price of $3.94.

Hedge Funds Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC boosted its position in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,671 shares of the company’s stock after buying an additional 13,835 shares during the quarter. 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 (SEC). 74.01% of the stock is owned by institutional investors and hedge funds.

Lucid Diagnostics Stock Performance

Shares of Lucid Diagnostics stock traded up $0.04 on Wednesday, hitting $1.04. 1,493,937 shares of the company’s stock traded hands, compared to its average volume of 192,497. Lucid Diagnostics has a one year low of $0.63 and a one year high of $1.58. The firm’s 50-day moving average price is $0.86 and its two-hundred day moving average price is $0.84.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $0.98 million during the quarter. As a group, equities research analysts predict that Lucid Diagnostics will post -0.82 EPS for the current year.

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.