Norges Bank Invests $1.03 Million in Pulmonx Co. (NASDAQ:LUNG)

Norges Bank acquired a new stake in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 151,200 shares of the company's stock, valued at approximately $1,027,000. Norges Bank owned about 0.38% of Pulmonx as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Pulmonx by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 313,169 shares of the company's stock valued at $2,596,000 after purchasing an additional 15,543 shares during the period. State Street Corp raised its holdings in Pulmonx by 2.6% in the 3rd quarter. State Street Corp now owns 747,028 shares of the company's stock worth $6,193,000 after acquiring an additional 18,592 shares during the period. Barclays PLC lifted its position in Pulmonx by 1.8% during the 3rd quarter. Barclays PLC now owns 94,109 shares of the company's stock worth $780,000 after acquiring an additional 1,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Pulmonx by 1.3% during the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company's stock valued at $7,403,000 after acquiring an additional 11,151 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Pulmonx by 2.3% in the third quarter. Franklin Resources Inc. now owns 700,389 shares of the company's stock valued at $5,806,000 after purchasing an additional 15,570 shares during the last quarter. 91.04% of the stock is owned by institutional investors.

Insider Activity at Pulmonx

In other news, Director Glendon E. French III sold 55,453 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.28, for a total value of $459,150.84. Following the transaction, the director now directly owns 1,011,974 shares of the company's stock, valued at $8,379,144.72. The trade was a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey Beran Rose sold 5,779 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.13, for a total value of $41,204.27. Following the sale, the insider now owns 285,278 shares in the company, valued at approximately $2,034,032.14. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,660 shares of company stock valued at $1,128,484 in the last ninety days. Insiders own 5.70% of the company's stock.

Pulmonx Price Performance

Shares of LUNG stock traded down $0.09 during trading hours on Thursday, hitting $4.70. The company had a trading volume of 85,323 shares, compared to its average volume of 332,697. Pulmonx Co. has a 12 month low of $4.71 and a 12 month high of $10.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The firm's fifty day moving average is $7.11 and its 200 day moving average is $6.73. The firm has a market capitalization of $189.16 million, a price-to-earnings ratio of -3.26 and a beta of 0.61.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.12. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The firm had revenue of $23.77 million for the quarter, compared to analysts' expectations of $22.29 million. On average, sell-side analysts predict that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LUNG. D. Boral Capital initiated coverage on Pulmonx in a research report on Monday, March 10th. They set a "buy" rating and a $17.00 price objective for the company. Morgan Stanley initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set an "equal weight" rating on the stock. Jefferies Financial Group initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a "buy" rating for the company. Finally, Citigroup initiated coverage on Pulmonx in a report on Monday, March 10th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.75.

Pulmonx Profile

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.