Lucid Diagnostics (NASDAQ:LUCD) Shares Up 1.5% – Should You Buy?

Lucid Diagnostics Inc. (NASDAQ:LUCD)’s share price traded up 1.5% during mid-day trading on Tuesday . The stock traded as high as $0.99 and last traded at $0.98. 610,223 shares were traded during trading, an increase of 245% from the average session volume of 176,781 shares. The stock had previously closed at $0.97.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LUCD. Canaccord Genuity Group upgraded shares of Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $2.50 price objective on shares of Lucid Diagnostics in a report on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a report on Tuesday, August 13th. Finally, Ascendiant Capital Markets decreased their target price on Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $3.94.

Lucid Diagnostics Stock Up 1.5 %

The stock’s 50 day moving average is $0.82 and its 200-day moving average is $0.83. The company has a market cap of $51.61 million, a PE ratio of -0.78 and a beta of 1.47.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.98 million for the quarter. On average, analysts anticipate that Lucid Diagnostics Inc. will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC raised its position in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the quarter. Virtu Financial LLC owned 0.07% of Lucid Diagnostics worth $28,000 as of its most recent SEC filing. 74.01% of the stock is currently 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.