Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Drops By 31.8%

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,220,000 shares, a decline of 31.8% from the February 28th total of 1,790,000 shares. Currently, 3.8% of the company's stock are short sold. Based on an average daily volume of 601,900 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Lucid Diagnostics

Large investors have recently modified their holdings of the business. Sunbelt Securities Inc. bought a new position in shares of Lucid Diagnostics in the 4th quarter worth $67,000. Citadel Advisors LLC purchased a new position in Lucid Diagnostics during the 4th quarter worth $98,000. Lido Advisors LLC increased its position in Lucid Diagnostics by 40.0% during the 4th quarter. Lido Advisors LLC now owns 140,016 shares of the company's stock valued at $115,000 after buying an additional 40,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Lucid Diagnostics by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 279,504 shares of the company's stock valued at $229,000 after buying an additional 65,964 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Lucid Diagnostics by 29.1% in the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company's stock valued at $44,000 after buying an additional 12,035 shares during the last quarter. Institutional investors own 74.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LUCD shares. Ascendiant Capital Markets lowered their price objective on Lucid Diagnostics from $7.25 to $7.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2.00 price target on shares of Lucid Diagnostics in a research report on Wednesday, March 26th. BTIG Research set a $2.00 price objective on Lucid Diagnostics in a research report on Tuesday, March 25th. Finally, Needham & Company LLC lifted their price objective on Lucid Diagnostics from $2.50 to $3.00 and gave the stock a "buy" rating in a research note on Monday, March 24th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $3.40.

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Lucid Diagnostics Stock Performance

Lucid Diagnostics stock traded down $0.01 during mid-day trading on Thursday, hitting $1.47. The company's stock had a trading volume of 296,891 shares, compared to its average volume of 366,356. The company has a 50 day moving average of $1.31 and a 200-day moving average of $1.02. Lucid Diagnostics has a one year low of $0.63 and a one year high of $1.63. The stock has a market cap of $132.95 million, a PE ratio of -1.29 and a beta of 1.34.

Lucid Diagnostics Company Profile

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.