Lucid Diagnostics (NASDAQ:LUCD) Issues Earnings Results, Misses Expectations By $0.04 EPS

Lucid Diagnostics (NASDAQ:LUCD) released its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04), FiscalAI reports. The firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.35 million.

Lucid Diagnostics Price Performance

Shares of Lucid Diagnostics stock traded down $0.03 during trading on Thursday, hitting $1.08. The company’s stock had a trading volume of 181,780 shares, compared to its average volume of 1,044,703. The stock has a market cap of $144.16 million, a price-to-earnings ratio of -0.91 and a beta of 1.22. Lucid Diagnostics has a 52 week low of $0.75 and a 52 week high of $1.80. The stock has a 50-day moving average price of $1.14 and a two-hundred day moving average price of $1.17.

Analyst Ratings Changes

Several research firms recently weighed in on LUCD. Wall Street Zen raised shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a report on Thursday. BTIG Research lifted their price target on Lucid Diagnostics from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Friday, September 5th. Ascendiant Capital Markets boosted their price target on Lucid Diagnostics from $7.75 to $8.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.70.

Insider Buying and Selling

In related news, Director Dennis Matheis bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $1.02 per share, with a total value of $102,000.00. Following the acquisition, the director owned 665,443 shares of the company’s stock, valued at $678,751.86. This represents a 17.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Lucid Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Lucid Diagnostics by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,523,997 shares of the company’s stock valued at $4,569,000 after acquiring an additional 396,719 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lucid Diagnostics by 420.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company’s stock worth $1,814,000 after purchasing an additional 1,274,194 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Lucid Diagnostics by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock valued at $129,000 after buying an additional 22,727 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Lucid Diagnostics during the 2nd quarter valued at about $97,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Lucid Diagnostics during the second quarter valued at approximately $43,000. 74.01% of the stock is owned by institutional investors and hedge funds.

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.