Lucid Diagnostics Inc. (NASDAQ:LUCD) Sees Large Decrease in Short Interest

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,220,000 shares, a drop of 31.8% from the February 28th total of 1,790,000 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 601,900 shares, the short-interest ratio is currently 2.0 days.

Lucid Diagnostics Price Performance

Shares of LUCD traded down $0.09 during mid-day trading on Monday, reaching $1.49. The company’s stock had a trading volume of 917,520 shares, compared to its average volume of 364,729. Lucid Diagnostics has a 12-month low of $0.63 and a 12-month high of $1.63. The stock has a market cap of $135.22 million, a PE ratio of -1.31 and a beta of 1.34. The company’s 50 day moving average is $1.27 and its 200 day moving average is $1.01.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LUCD shares. Needham & Company LLC increased their target price on Lucid Diagnostics from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Ascendiant Capital Markets lowered 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. BTIG Research set a $2.00 target price on shares of Lucid Diagnostics in a research note on Tuesday, March 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $2.00 price target on shares of Lucid Diagnostics in a research report on Wednesday, March 26th. Four equities 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.com, the company presently has a consensus rating of “Buy” and an average target price of $3.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LUCD. Sargent Investment Group LLC acquired a new stake in Lucid Diagnostics during the 4th quarter worth $442,000. Citadel Advisors LLC purchased a new stake in shares of Lucid Diagnostics in the 4th quarter valued at about $98,000. Sunbelt Securities Inc. acquired a new stake in shares of Lucid Diagnostics in the 4th quarter valued at about $67,000. Geode Capital Management LLC grew its stake in Lucid Diagnostics by 30.9% during the 4th quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock worth $229,000 after buying an additional 65,964 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in Lucid Diagnostics by 40.0% during the 4th quarter. Lido Advisors LLC now owns 140,016 shares of the company’s stock worth $115,000 after buying an additional 40,000 shares during the last quarter. Institutional investors and hedge funds 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.