Lucid Diagnostics (NASDAQ:LUCD) Shares Up 1.5% – Here’s What Happened

Lucid Diagnostics Inc. (NASDAQ:LUCD) shares shot up 1.5% during mid-day trading on Tuesday . The stock traded as high as $0.99 and last traded at $0.98. 610,223 shares traded hands 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

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

Lucid Diagnostics Price Performance

The firm has a 50 day moving average of $0.83 and a two-hundred day moving average of $0.83. The stock has a market cap of $52.32 million, a PE ratio of -0.83 and a beta of 1.47.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter. The business had revenue of $0.98 million during the quarter. As a group, equities analysts anticipate that Lucid Diagnostics Inc. will post -0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC grew its stake in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the period. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.