Pulmonx (NASDAQ:LUNG) Trading Up 2.5% – Still a Buy?

Shares of Pulmonx Corporation (NASDAQ:LUNG) shot up 2.5% on Wednesday . The stock traded as high as $2.28 and last traded at $2.2750. 172,402 shares traded hands during trading, a decline of 83% from the average session volume of 998,628 shares. The stock had previously closed at $2.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Pulmonx from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Lake Street Capital decreased their price objective on Pulmonx from $8.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Pulmonx in a report on Wednesday, October 8th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $14.00 price target on shares of Pulmonx in a report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.81.

Pulmonx Stock Performance

The company has a quick ratio of 4.15, a current ratio of 4.86 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $93.84 million, a price-to-earnings ratio of -1.61 and a beta of 0.22. The stock’s fifty day moving average is $1.89 and its two-hundred day moving average is $2.08.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. Pulmonx had a negative return on equity of 77.58% and a negative net margin of 61.91%.The firm had revenue of $21.50 million for the quarter, compared to the consensus estimate of $20.78 million. On average, analysts predict that Pulmonx Corporation will post -1.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in Pulmonx in the 3rd quarter worth about $29,000. Jain Global LLC bought a new position in shares of Pulmonx during the third quarter worth approximately $30,000. Corton Capital Inc. bought a new position in shares of Pulmonx during the second quarter worth approximately $32,000. Perkins Capital Management Inc. raised its position in shares of Pulmonx by 110.0% in the third quarter. Perkins Capital Management Inc. now owns 21,000 shares of the company’s stock valued at $34,000 after buying an additional 11,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Pulmonx by 95.8% in the third quarter. SG Americas Securities LLC now owns 24,863 shares of the company’s stock valued at $40,000 after buying an additional 12,166 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.