Pulmonx Co. (NASDAQ:LUNG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pulmonx Co. (NASDAQ:LUNG) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.59.

Several analysts have recently commented on the stock. Citigroup decreased their price target on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a “buy” rating on the stock. Morgan Stanley initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set an “equal weight” rating for the company. Canaccord Genuity Group reduced their price target on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a report on Thursday, May 1st.

Insider Buying and Selling at Pulmonx

In other news, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the sale, the director now directly owns 991,974 shares in the company, valued at $7,786,995.90. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geoffrey Beran Rose sold 5,779 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.13, for a total transaction of $41,204.27. Following the transaction, the insider now owns 285,278 shares of the company’s stock, valued at $2,034,032.14. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,207 shares of company stock valued at $669,334. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after acquiring an additional 3,310 shares in the last quarter. R Squared Ltd acquired a new position in shares of Pulmonx during the 4th quarter worth approximately $46,000. Rhumbline Advisers raised its stake in shares of Pulmonx by 4.9% during the 4th quarter. Rhumbline Advisers now owns 53,503 shares of the company’s stock worth $363,000 after purchasing an additional 2,488 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pulmonx by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock valued at $2,142,000 after buying an additional 2,363 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Pulmonx by 44.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company’s stock worth $570,000 after buying an additional 25,988 shares during the last quarter. Institutional investors own 91.04% of the company’s stock.

Pulmonx Price Performance

Shares of LUNG stock opened at $3.11 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The stock’s fifty day simple moving average is $5.07 and its 200 day simple moving average is $6.21. Pulmonx has a one year low of $2.97 and a one year high of $9.37. The firm has a market cap of $125.20 million, a price-to-earnings ratio of -2.16 and a beta of 0.65.

Pulmonx (NASDAQ:LUNG) last announced its earnings results on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. The business had revenue of $22.54 million for the quarter, compared to the consensus estimate of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, analysts expect that Pulmonx will post -1.55 earnings per share for the current fiscal year.

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.