Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Drops By 18.0%

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 361,400 shares, a drop of 18.0% from the March 31st total of 441,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 164,900 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LUCD. Needham & Company LLC reissued a “buy” rating and set a $2.50 price target on shares of Lucid Diagnostics in a research report on Friday, April 12th. Cantor Fitzgerald cut their target price on Lucid Diagnostics from $3.80 to $3.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th.

Lucid Diagnostics Stock Performance

LUCD stock traded up $0.01 on Friday, reaching $0.68. The company’s stock had a trading volume of 123,806 shares, compared to its average volume of 180,015. The business has a fifty day simple moving average of $1.03 and a two-hundred day simple moving average of $1.24. Lucid Diagnostics has a 12-month low of $0.63 and a 12-month high of $1.85.

Lucid Diagnostics (NASDAQ:LUCD) last announced its earnings results on Tuesday, March 26th. The company reported ($0.26) EPS for the quarter. Lucid Diagnostics had a negative return on equity of 901.79% and a negative net margin of 2,169.07%. The company had revenue of $1.04 million during the quarter. During the same quarter in the prior year, the company posted ($0.22) earnings per share. As a group, research analysts expect that Lucid Diagnostics will post -0.92 earnings per share for the current year.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc, a commercial-stage medical diagnostics technology company, focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma in the United States. The company's flagship product, the EsoGuard Esophageal DNA Test performed on samples collected with the EsoCheck Esophageal Cell collection device, a testing tool with the goal of preventing EAC deaths through early detection of esophageal precancer in at-risk GERD patients.