Lucid Diagnostics (NASDAQ:LUCD) Trading 1.5% Higher - Should You Buy?

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report)'s stock price was up 1.5% on Tuesday . The company traded as high as $0.99 and last traded at $0.98. Approximately 610,223 shares changed hands during mid-day trading, an increase of 245% from the average daily volume of 176,781 shares. The stock had previously closed at $0.97.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group reissued a "buy" rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Tuesday, August 13th. Canaccord Genuity Group raised shares of Lucid Diagnostics to a "strong-buy" rating in a report on Tuesday, August 13th. Needham & Company LLC restated a "buy" rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Finally, Ascendiant Capital Markets cut their target price on shares of Lucid Diagnostics from $7.50 to $7.25 and set a "buy" rating for the company in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $3.94.

Lucid Diagnostics Stock Up 1.6 %

The stock has a fifty day moving average of $0.83 and a 200-day moving average of $0.83. The firm has a market capitalization of $52.42 million, a P/E ratio of -0.79 and a beta of 1.47.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter. The business had revenue of $0.98 million for the quarter. As a group, analysts forecast that Lucid Diagnostics Inc. will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC increased its position in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Free Report) by 66.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,671 shares of the company's stock after acquiring an additional 13,835 shares during the quarter. Virtu Financial LLC owned about 0.07% of Lucid Diagnostics worth $28,000 as of its most recent SEC filing. Institutional investors own 74.01% of the company's stock.

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.