Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Drops By 21.1%

Lucid Diagnostics Inc. (NASDAQ:LUCD) saw a significant decrease in short interest in December. As of December 15th, there was short interest totalling 332,700 shares, a decrease of 21.1% from the November 30th total of 421,800 shares. Based on an average trading volume of 432,600 shares, the short-interest ratio is presently 0.8 days. Currently, 1.4% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms recently commented on LUCD. Cantor Fitzgerald cut their price objective on shares of Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Thursday, November 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, November 14th. Finally, Ascendiant Capital Markets cut their target price on Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.63.

Lucid Diagnostics Price Performance

NASDAQ:LUCD traded up $0.02 on Friday, hitting $0.79. 270,584 shares of the company’s stock were exchanged, compared to its average volume of 237,038. The firm has a 50-day moving average price of $0.91 and a 200-day moving average price of $0.84. Lucid Diagnostics has a 52 week low of $0.63 and a 52 week high of $1.58. The company has a market cap of $46.88 million, a P/E ratio of -0.69 and a beta of 1.42.

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.