Pulmonx Co. (NASDAQ:LUNG – Get Rating) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 2,830,000 shares, a decrease of 7.5% from the January 31st total of 3,060,000 shares. Currently, 9.2% of the shares of the company are short sold. Based on an average daily trading volume, of 478,200 shares, the short-interest ratio is currently 5.9 days.
Insider Buying and Selling at Pulmonx
In other Pulmonx news, CEO Glendon E. French III sold 2,895 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $11.03, for a total transaction of $31,931.85. Following the completion of the sale, the chief executive officer now directly owns 1,032,580 shares of the company’s stock, valued at $11,389,357.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 5,365 shares of company stock valued at $59,176. Insiders own 8.50% of the company’s stock.
Institutional Investors Weigh In On Pulmonx
Institutional investors have recently made changes to their positions in the company. Walleye Capital LLC bought a new stake in shares of Pulmonx in the 2nd quarter worth about $501,000. CenterBook Partners LP bought a new stake in shares of Pulmonx in the 3rd quarter worth about $311,000. Russell Investments Group Ltd. bought a new stake in shares of Pulmonx in the 3rd quarter worth about $1,601,000. Bridgewater Associates LP lifted its holdings in shares of Pulmonx by 27.1% in the 2nd quarter. Bridgewater Associates LP now owns 51,855 shares of the company’s stock worth $763,000 after acquiring an additional 11,068 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Pulmonx by 12.9% in the 2nd quarter. Deutsche Bank AG now owns 800,221 shares of the company’s stock worth $11,779,000 after acquiring an additional 91,313 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.
Pulmonx Price Performance
Shares of NASDAQ:LUNG opened at $11.86 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.73 and a current ratio of 9.14. The firm has a fifty day moving average price of $9.01 and a 200 day moving average price of $11.41. Pulmonx has a fifty-two week low of $4.07 and a fifty-two week high of $28.30. The firm has a market cap of $446.53 million, a price-to-earnings ratio of -7.46 and a beta of 0.32.
Pulmonx (NASDAQ:LUNG – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.03. Pulmonx had a negative net margin of 109.80% and a negative return on equity of 35.08%. The business had revenue of $15.40 million during the quarter, compared to analyst estimates of $13.98 million. During the same quarter last year, the business earned ($0.35) earnings per share. Pulmonx’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Pulmonx will post -1.75 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LUNG. Morgan Stanley increased their price objective on shares of Pulmonx from $9.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Bank of America cut shares of Pulmonx from a “neutral” rating to an “underperform” rating and set a $8.00 price objective for the company. in a research note on Tuesday, January 3rd. Citigroup increased their price objective on shares of Pulmonx from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Canaccord Genuity Group increased their price objective on shares of Pulmonx from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Finally, Wells Fargo & Company raised shares of Pulmonx from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $15.00 in a research note on Monday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.
Pulmonx Company Profile
Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.