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

Lucid Diagnostics Inc. (NASDAQ:LUCD) experienced a notable reduction in short interest during November. As of November 15th, short interest was recorded at 293,100 shares, representing a decrease of 30.6% from the total of 422,400 shares on October 31st. Currently, about 1.5% of the company's total shares are sold short. Given an average daily trading volume of 319,300 shares, the short-interest ratio stands at 0.9 days.

Analyst Ratings for Lucid Diagnostics

Recently, several analysts have provided updates on shares of Lucid Diagnostics. Canaccord Genuity Group maintained a "buy" rating while setting a price target of $3.00 per share in their report dated November 14th. Conversely, Cantor Fitzgerald lowered their price target from $3.00 to $2.00 while continuing an "overweight" rating on the stock. Canaccord Genuity had previously raised Lucid Diagnostics to a "strong-buy" rating in a report on August 13th. Meanwhile, Ascendiant Capital Markets adjusted their price target from $7.50 down to $7.25, maintaining a "buy" rating. Lastly, Needham & Company LLC reiterated a "buy" rating and set a price target of $2.50 on November 14th. Presently, four analysts have rated the stock with a "buy" rating, and one has assigned a "strong buy" rating, resulting in a consensus rating of "Buy" and a target price of $3.69 according to MarketBeat.com.

Hedge Fund Activity Involving Lucid Diagnostics

A hedge fund has recently increased its investment in Lucid Diagnostics. Virtu Financial LLC raised its stake in Lucid Diagnostics by 66.4% during the first quarter, as reported in their latest 13F filing with the Securities and Exchange Commission. After acquiring an additional 13,835 shares, Virtu Financial now holds a total of 34,671 shares, representing about 0.07% of the company's stock, with a total value of approximately $28,000. Currently, institutional investors possess a collective 74.01% of the company's shares.

Lucid Diagnostics Stock Performance

On the stock market, shares of Lucid Diagnostics (NASDAQ:LUCD) traded flat on Friday, remaining at $1.00. During the trading session, 100,778 shares were exchanged, compared to an average trading volume of 209,494 shares. The stock has a yearly low of $0.63 and a high of $1.58. Its market capitalization is around $59.30 million, with a price-to-earnings ratio of -0.88 and a beta of 1.41. The 50-day moving average price is listed as $0.90, while the 200-day moving average price stands at $0.85.

About Lucid Diagnostics

Lucid Diagnostics Inc. operates as a medical diagnostics technology company based in the United States. The company primarily focuses on patients suffering from gastroesophageal reflux disease (GERD) who are at a higher risk of developing esophageal precancer and cancer, specifically deadly esophageal adenocarcinoma.

Lucid, Diagnostics, Stocks