Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Declines By 21.1%

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 332,700 shares, a drop of 21.1% from the November 30th total of 421,800 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 432,600 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

LUCD has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Thursday, November 14th. Ascendiant Capital Markets reduced their target price on shares of Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Cantor Fitzgerald dropped their price target on shares of Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $3.63.

Lucid Diagnostics Price Performance

Shares of NASDAQ LUCD traded up $0.02 during midday trading on Friday, reaching $0.79. 270,584 shares of the stock were exchanged, compared to its average volume of 237,038. The company has a market capitalization of $46.88 million, a price-to-earnings ratio of -0.69 and a beta of 1.42. Lucid Diagnostics has a 12 month low of $0.63 and a 12 month high of $1.58. The business has a 50-day simple moving average of $0.91 and a two-hundred day simple moving average of $0.84.

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.