Pulmonx Co. (NASDAQ:LUNG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.75.

Several equities analysts have recently commented on LUNG shares. Stifel Nicolaus reduced their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup reissued a “neutral” rating and set a $7.50 price target (down from $17.00) on shares of Pulmonx in a research report on Wednesday, December 11th.

Pulmonx Price Performance

LUNG stock opened at $6.15 on Wednesday. The company has a market capitalization of $242.85 million, a PE ratio of -4.18 and a beta of 0.69. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $6.50 and its two-hundred day moving average is $6.84. Pulmonx has a 52-week low of $5.46 and a 52-week high of $14.84.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The firm had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.39 million. During the same period in the prior year, the company posted ($0.39) earnings per share. Analysts predict that Pulmonx will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Pulmonx

In other news, General Counsel David Aaron Lehman sold 5,497 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.19, for a total transaction of $34,026.43. Following the completion of the transaction, the general counsel now owns 197,851 shares in the company, valued at approximately $1,224,697.69. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.63, for a total transaction of $132,600.00. Following the completion of the sale, the director now owns 1,071,974 shares in the company, valued at approximately $7,107,187.62. This represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,873 shares of company stock worth $324,070. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently made changes to their positions in the business. 272 Capital LP bought a new stake in Pulmonx during the 3rd quarter valued at $25,000. nVerses Capital LLC bought a new stake in shares of Pulmonx during the third quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pulmonx in the second quarter worth about $37,000. SG Americas Securities LLC acquired a new position in Pulmonx during the 3rd quarter valued at about $102,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Pulmonx during the 2nd quarter worth about $93,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

About Pulmonx

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.