Lucid Diagnostics (NASDAQ:LUCD) Trading 1.5% Higher – Here’s What Happened

Lucid Diagnostics Inc. (NASDAQ:LUCD)’s share price shot up 1.5% on Tuesday . The stock traded as high as $0.99 and last traded at $0.98. 610,223 shares were traded during mid-day trading, an increase of 245% from the average session volume of 176,781 shares. The stock had previously closed at $0.97.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group upgraded Lucid Diagnostics to a “strong-buy” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $2.50 price objective on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Finally, Ascendiant Capital Markets decreased their target price on shares of Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating for the company in a report on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $3.94.

Lucid Diagnostics Stock Up 1.5 %

The firm has a market capitalization of $51.61 million, a PE ratio of -0.78 and a beta of 1.47. The stock’s fifty day simple moving average is $0.82 and its 200 day simple moving average is $0.83.

Lucid Diagnostics (NASDAQ:LUCD) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $0.98 million for the quarter. On average, analysts predict that Lucid Diagnostics Inc. will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC lifted its position in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,671 shares of the company’s stock after buying an additional 13,835 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 at the end of the most recent quarter. 74.01% of the stock is currently 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.