Lucid Diagnostics Inc. (NASDAQ:LUCD) Sees Significant Growth in Short Interest

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,790,000 shares, an increase of 72.1% from the February 13th total of 1,040,000 shares. Based on an average daily trading volume, of 576,100 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.6% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets reduced their price objective on shares of Lucid Diagnostics from $7.25 to $7.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $3.63.

Lucid Diagnostics Price Performance

Lucid Diagnostics stock traded up $0.09 during midday trading on Wednesday, reaching $1.50. The company's stock had a trading volume of 796,225 shares, compared to its average volume of 344,522. The stock has a market capitalization of $89.01 million, a P/E ratio of -1.32 and a beta of 1.34. The stock's 50-day simple moving average is $1.16 and its 200-day simple moving average is $0.97. Lucid Diagnostics has a 52-week low of $0.63 and a 52-week high of $1.63.

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Hedge Funds Weigh In On Lucid Diagnostics

Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in Lucid Diagnostics by 29.1% during the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company's stock valued at $44,000 after purchasing an additional 12,035 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Lucid Diagnostics by 40.0% during the fourth 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Lucid Diagnostics by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 279,504 shares of the company's stock valued at $229,000 after acquiring an additional 65,964 shares during the period. Sunbelt Securities Inc. purchased a new position in Lucid Diagnostics in the 4th quarter worth $67,000. Finally, Citadel Advisors LLC acquired a new stake in Lucid Diagnostics during the 4th quarter worth about $98,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

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.