Lucid Diagnostics’ (LUCD) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $2.50 price target on the stock.

LUCD has been the topic of several other reports. Canaccord Genuity Group upgraded shares of Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group restated a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Finally, Ascendiant Capital Markets reduced their price target on shares of Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.69.

Lucid Diagnostics Stock Down 3.1 %

NASDAQ LUCD traded down $0.03 during midday trading on Thursday, hitting $0.98. The company had a trading volume of 404,512 shares, compared to its average volume of 195,098. The stock has a market cap of $52.83 million, a price-to-earnings ratio of -0.88 and a beta of 1.41. The firm has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $0.85. Lucid Diagnostics has a fifty-two week low of $0.63 and a fifty-two week high of $1.58.

Lucid Diagnostics (NASDAQ:LUCD) last issued its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.98 million for the quarter. As a group, equities analysts predict that Lucid Diagnostics will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC lifted its stake in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 34,671 shares of the company’s stock after buying an additional 13,835 shares during the quarter. Virtu Financial LLC owned about 0.07% of Lucid Diagnostics worth $28,000 as of its most recent SEC filing. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

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.